# Rent to Buy



## queby2 (Jul 2, 2011)

Hi there, does anyone have any experience or information regarding the 'Rent to Buy' offers from Connells/CAM Bank? Also, how genuine are their sale prices? They look really low. I know things are quite bad in Spain but are there really this many repossessions/distressed sales or is it a sales pitch. Any info gratefully received....Thanks in advance


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## Alcalaina (Aug 6, 2010)

queby2 said:


> Hi there, does anyone have any experience or information regarding the 'Rent to Buy' offers from Connells/CAM Bank? Also, how genuine are their sale prices? They look really low. I know things are quite bad in Spain but are there really this many repossessions/distressed sales or is it a sales pitch. Any info gratefully received....Thanks in advance


I wouldn't touch them with a barge pole. It is a buyer's market, and prices are still falling. Why commit yourself? Rent somewhere and have a look round first!


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## jojo (Sep 20, 2007)

Take a look at this thread which came up a while ago

http://www.expatforum.com/expats/spain-expat-forum-expats-living-spain/62560-rent-buy.html

Jo xxx


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## queby2 (Jul 2, 2011)

Many thanks for the responses. I wasn't thinking of doing the 'buy' bit, I don't think there's any obligation to buy. Some of the rents they quote are reasonable and they seem to have a lot of property available. Their rents seem to be a bit more acceptable so I wondered if anyone out there has ever rented from them.
As to the second part of my post, are there really so many repo/distressed properties as they would have you believe? If so, the situation is even worse than I thought it was!


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## jojo (Sep 20, 2007)

queby2 said:


> Many thanks for the responses. I wasn't thinking of doing the 'buy' bit, I don't think there's any obligation to buy. Some of the rents they quote are reasonable and they seem to have a lot of property available. Their rents seem to be a bit more acceptable so I wondered if anyone out there has ever rented from them.
> As to the second part of my post, are there really so many repo/distressed properties as they would have you believe? If so, the situation is even worse than I thought it was!


There are many many repossessions, many many half built properties and many many built but empty places. Its very sad. Not only for those who've lost their homes, but the amount of buildings that have been built or nearly built that are now overgrown with weeds and derelict. Things are bad in Spain, they didnt see the property crash coming

Jo xxx


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## Alcalaina (Aug 6, 2010)

queby2 said:


> Many thanks for the responses. I wasn't thinking of doing the 'buy' bit, I don't think there's any obligation to buy. Some of the rents they quote are reasonable and they seem to have a lot of property available. Their rents seem to be a bit more acceptable so I wondered if anyone out there has ever rented from them.
> As to the second part of my post, are there really so many repo/distressed properties as they would have you believe? If so, the situation is even worse than I thought it was!


It is desperate.

There are estimated to be over a million dwellings standing empty. When the credit crunch hit in 2008/9, buyers could no longer get mortgages, and builders couldn't sell what they had built on spec nor borrow the money to finish what they had started. 

The unemployment crisis (22% and still rising) means that another 5,000 homes are being repossessed each month because people can't pay their mortgages and they are moving in with their relatives.


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