Has anyone heard of "mietkauf" building projects

6 posts in this topic

HI everyone, 

 

Like a lot of 30 somethings me and the other half are thinking about whether we should consider buying instead of renting.

 

I saw on immoscout this listing:

 

https://www.immobilienscout24.de/expose/104712385?referrer=RESULT_LIST_SURROUNDING_SUBURBS&navigationServiceUrl=%2FSuche%2Fcontroller%2FexposeNavigation%2Fnavigate.go%3FsearchUrl%3D%2FSuche%2FS-T%2FHaus-Miete%2FHessen%2FMain-Kinzig-Kreis%2FHanau%26exposeId%3D104712385&navigationBarType=RESULT_LIST&searchId=4133067f-f1b2-332c-b0db-16748ae50a62#/

 

Does anyone have any experience with this kind of financing. What are the pros and cons etc.

 

Many thanks, 

 

Hugsrock

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This type of transaction is called 'Rent  to own' / 'Rent to buy' in English. Typically for people who don't currently qualify for a traditional mortgage, needing to build up a deposit etc. I don't have direct experience of one but here is a useful link:

https://www.investopedia.com/updates/rent-to-own-homes/

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Not entirely sure if this was the same thing but I had a colleague who bought a flat and rented it out to pay the mortgage. Unfortunately the building was then used to house low-income families on state benefits. Unsurprisingly this had not been revealed to him before purchase. Because of the social level of the neighbours he was unable to rent at a price that would cover the mortgage...

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1 hour ago, hugsrock said:

 

I saw on immoscout this listing:

 

To call it a listing might be generous.  Don't even think we're going to tell you anything!  We definitely won't give out any information!   You might want to start right there are considering it as a transaction.  Not really what you want with most transactions but even less with a new build property perhaps.

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24 minutes ago, swimmer said:

 

To call it a listing might be generous.  Don't even think we're going to tell you anything!  We definitely won't give out any information!   You might want to start right there are considering it as a transaction.  Not really what you want with most transactions but even less with a new build property perhaps.

 

 

Fair point. I had just never heard about it before, and wanted more information, but I'm absolutely aware there are a lot of scams out there

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