Things of huge interest to some

RENT TO buy has been a popular option put forward by real estate agents throughout the world, to help prospective buyers who in this time of financial crisis have difficulty finding a mortgage lender. Likewise sellers would rather have their mortgage payments covered by rent on a property that they no longer wish to own. 

It’s not a perfect situation but it offers a semi-satisfaction level for all three parties involved: the seller who does not default on bank payment; the renter who has a property to live in; the real estate agent who is making a commission on the rental deal. However, allegations have been made that in at least one instance, the rent is gong directly to the agent and not to the seller, as the seller is oblivious to the fact that their property is being lived in.

In the majority of cases the seller has sold up and left Spain, leaving power of attorney for any possible sale in the hands of their Real Estate agent. However, an uglier side to this practice has now reared its head and one Quesada based agency in particular is being accused of renting out houses on their books without the knowledge of the sellers and pocketing the entire rental income. 

This scam has been performed before along the coast, but usually the agency has shut shop overnight and disappeared. In this case, the agency in question, who cannot be named at this time, has a high profile and advertises both locally on the Costa Blanca and in magazines further south.

Thus, while investigations continue, if you have placed your property in the hands of an agency operating out of Quesada, have proof or evidence that they have rented your property without your express knowledge and you have a contract allowing them to do so, or you are renting a property that is for sale and are subjected to allowing prospective clients to view, please let RTN`s Keith Nicol know by emailing: keith@roundtownnews.com 

Source: RoundTownNews