PHASED
DEPOSIT SCHEME
Military Close, Rathkelly,
Ballinrobe
Helping the dream become a reality!!
Having
difficulty paying rent and saving for your deposit?
Tired of paying dead money on a house you will never own?
Why
pay good money every month when you can, in effect, be using this cash to
purchase your first home. Our
Phased Deposit scheme at
Military Close is designed to meet a gaping need in the current housing market.
We are finding more and more that many first time buyers are caught up in
a cycle of maintaining monthly rental payments and thus reducing your capacity
to save towards a deposit on your first home.
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Rent-To-Buy offers prospective buyers the chance to 'test drive' a property for a two years prior to buying, with 100% of Rent paid going towards the price of the house if you choose to buy at the end of three years.
The properties are offered in turn key condition with all kitchen units, appliances, flooring and tiling complete. Furniture is not included.
With prices fixed for two years and 100% of the rent paid being deducted from the sale price, this scheme is a win-win prospect for many people currently looking to purchase their family home.
In addition, we are offering a Discount of €20,000 should you wish to purchase your home within 3 months of entering into the rental agreement and Discount of €10,000 should you wish to purchase your home within 12 months of entering into the rental agreement.
EXAMPLE OF RENT TO BUY SCHEME
3 bedroom House (Fixed price for 2 years): €219,000
Rent €750 X 24 months € 18,000
Security Deposit: € 2,000**
Balance due after 2 Years: €199,000
(**SECURITY
DEPOSIT
A security deposit of €2,000 will be required. If the property is vacated
within the 3 year period, this deposit will be returned subject to condition of
property. If the property is purchased this deposit will be deducted from the
agreed sale price.)
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FAQ’s
What
house can I buy through the scheme?
We are
offering a limited number of houses in the development through this scheme.
As interest is high you will need to make direct contact with Feerick
Property to see which units are still available.
If
I need to give notice on my current rented accommodation can I still register my
interest?
Of
course! It will take a little time
to process your application form and for paperwork to be completed so it is
important to register your interest immediately.
How
much rent do I pay every month and who do I pay it to?
The rent
is set at €750 per calendar month (equivalent of €172.60 per week).
The rent is payable each month by standing order to Design Build
Contracts Limited. This rental is
100% deductable from the agreed sale price when you purchase your home outright.
After
what period of time am I able to buy my home?
The period of time is a maximum of two years but if you are in a position to buy your home sooner you are entitled to do this.
Will I be penalised
if I want to buy my home before the three years are up?
Absolutely
not!! In fact, if you decide you
are in a position to go ahead and purchase your home within one months of
entering into your rental agreement we will give you a discount of €20,000 off
the agreed purchase price. Should
you wish to purchase your home within the first 12 months, we will give you a
discount of €10,000 off the agreed purchase price and if you decide to buy
within 15 months we will give you €5,000 discount.
Do
I need to pay a Deposit?
A deposit of €2,000 is required to participate in the scheme. The deposit is credited against the purchase price of your home at the end of the period.
What happens if I decide not to buy the house at the end of the scheme?
If you decide not to proceed with the purchase of the house
then you are entitled to walk away with no further obligation.
What
happens if the value of the house has increased from the agreed price?
Whilst you are under no obligation to proceed with the
purchase of your home, within the terms of the scheme the developer must sell to
you at the price agreed at the beginning of the arrangement.
I
like what I see so far, what is my next step?
Contact Feerick Property 094 9541192
for full details, appointment to view and Application Form.
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