Selling by instalments

We have been trying to sell a property in Spain for some time and have been approached with offers to buy in instalments. Is this a common prectice and has anyone got any advice? 

Hello lochiel and welcome to eye on Spain.

This is common practice in Spain. You should immediately have the property transferred into the installers name, provided you know their name. This would ensure you do not become liable for any unpaid debts.

Do you mean you put your house on the market for X amount of Euro's and folk viewed it, then offered to buy your house and pay for it, say monthly or weekly directly to you. (Not 100% sure of what you say) ....Never heard of this being done this way in Spain.

You might be desperate to sell along with thousands of others, but do you honestly believe this is the way forwards to sell your house.

If you did do it this way I have no doubt you would get one months payments, perhaps a few more, then what would you do if the buyers stopped paying you, try to explain to a court that you gave them a house on the promise they would pay you back, hells bells some people wont even pay a car loan back of a few thousand Euros or Pounds.

Whats in it for you? The promise that you get to sell your house, paid back over a long term maybe,  for the buyer it sounds like an interest free house loan because they have been refused loans everywhere else.

Please don't come back with every check of the buyers back ground  and past records will be done, sorry that don't work.

I hope you're not one of these one shot posters with better then daft questions that come on here and go just as quick, and my advice is if you did sell your house this way you deserve everything you might get from the worst way I can think of selling anything.

This has got to be the craziest thing yet ...you can just imaging the legal the legal battle  to get your property back ..if the so called buyer defaulted on the payments.

Normally this is done as a rent to buy. The 'tenant' agrees to a payment plan set up by a notary with a contract. It usually involves much higher payments than normal rent and a capital sum at the end of the term when the transfer is then made.

Much like car contract rental. If the 'tenant' doesn't pay normal eviction or possession process takes place. Make sure utilities get transferred at the start or you may become liable for any outstanding debt. 

I’m sure a notary or lawyer would be able to draw a contract up that states the conditions of purchasing and payment, and ownership and tenancy.

but the rub is, people don’t behave like the paperwork tells them to and consider the options when payment is not made and a tenant has to be evicted, consider the options of dilapidation of the property, fire, abuse etc.

the property laws in Spain can be quite challenging!    This method would challenge every bone in your body I reckon.

What is the 'Normal' eviction process in Spain because from the very little I have read on here getting someone out of your own house in Spain is next to impossible, hard enough in the UK and thats knowing the system?

You would just need Laurence from  ‘’Can't Pay? We'll Take It Away!’’

Thanks for comments and advice. I just wondered if anyone had experience of this system. I can appreciate all the pitfalls and would look on it as a last resort. 

www.spanishpropertyinsight.com/legal/let-to-buy-in-spain-the-smart-choice/

https://www.renttobuyspain.com/

Whats the address of the property etc.  You never know someone on here may fancy it!

It is advertised on this website. It is at Paniramica Golf and  Country Club near Vinaros. A very good price!

My good friend Tony down the pub might be interested. I'll provide the references. 

That would be great thanks😀

That would be great thanks😀