REVERSE HOUSING
Reverse housing is a flexible and efficient financial solution for seniors to monetize all the savings they have deposited in their homes.
1. SELL THE HOUSE
2. GET A SUBSTANTIAL DOWN PAYMENT
3. CONTINUE TO ENJOY THE HOUSE FOREVER AS A TENANT.
What is Reverse Housing?
WE ARE OFFICIAL ADVISORS OF EVEN MORE LIFE
It is the sale of the full ownership of the property and the simultaneous signing of a lease for life, which guarantees you to stay in your home for life, with the flexibility to leave it prematurely without any penalty.
Under this model, the seller receives the agreed amount at the time of sale and is retained the amount necessary to pay the rent for an estimated period of life. If the owner abandons the property earlier, the unconsumed retained amount is given to him or to his heirs in the event of death. If you survive the estimated period of life, from that moment on you will not pay rent, only utilities and community expenses.
Advantages of Reverse Housing
Higher amount to be received
Reverse housing, in general, offers a higher amount than the rest of the services in this market.
Maximum flexibility
The Vivienda Inversa adapts to your needs, it is the only product that covers the risk of premortem or early abandonment of the property.
Excellent tax treatment
The sale of the principal residence by persons over 65 years of age is exempt from personal income tax.
Legal Warranty
The transaction is formalized before a notary and registered in the Land Registry.
Full transparency
The valuation of the property is carried out by an independent appraiser approved by the Bank of Spain.
Additional Benefits of Reverse Housing
+ ADDITIONAL AMOUNT IF YOU DECIDE TO LEAVE THE PROPERTY EARLIER
+ SPILL COVERAGE GUARANTEE
+ ADDITIONAL BENEFITS FOR LIFE
Steps to follow to formalize the operation
We help you in the whole process and formalization. Contact us and we will give you all the information and advantages of this product.
Requirements:
- Preferably 65 years of age or older.
- Owning a property
Formalization process
- We meet with the interested party to learn about their preferences and specific needs.
- We analyze your case internally and present you with several payment proposals.
- We are looking for an investor interested in acquiring the house according to previously agreed conditions.
- The transaction is formalized before a notary and registered in the Land Registry.
In addition, after the formalization, the beneficial owners have the assistance and support of the Mas Vida team for the duration of the contract, since we act as a direct link in any question or procedure that may arise with the buyer.
Frequently Asked Questions
The amount to be received results from:
- The purchase value (e.g. 350,000 euros).
- The expected life expectancy (e.g. 10 years), or the period during which you tell us that you want to dispose of the house if it is shorter.
- The value of the lease for such life expectancy (e.g. 120,000 euros at a rate of 1,000 euros per month).
On the day of signing, 230,000 euros would be received, corresponding to the difference between the purchase price (350,000 euros) and the estimated rent (120,000 euros).
If you do not stay in the house for the estimated time, you will be entitled to receive an additional amount corresponding to the portion of the rent not consumed.
You will be immediately credited for that portion of the unconsumed lease.
It is common for life circumstances to vary. Thus, the reverse housing is the most flexible product on the market, since in the event of leaving the house before the estimated term or in the event of death before the scheduled date, you or your heirs will receive the unconsumed portion of the lease.
Following the above example, if after 3 years (36 months) the seller/tenant wishes to leave the property to go and live with a child, he/she would be entitled to receive an additional amount of 84,000 euros, since 36,000 euros would have been consumed, corresponding to 36 monthly payments of 1,000 euros each, out of an estimated total lease of 120,000 euros (120,000 – 36,000 = 84,000).
You will be able to stay in the property as long as you wish, and the only cost you will assume will be the equivalent to the maintenance costs of the property (such as community or utilities).
The reverse tenancy covers both spouses, so that in the event of the death of one of them, the other will continue to occupy the home under the same conditions as the deceased spouse.
It is a completely secure transaction.
The lease is registrable in the Land Registry and renewable at the will of the seller/lessee.
More importantly, the seller/lessee’s performance is assured, as he has implicitly left the lease “paid” on day one,
That is, of the money to be received (following the example of 230,000 euros), you will be able to choose which part of it you want to receive on the first day in the form of capital, and which part in the form of an annuity.
For this purpose, you have the option of taking out a life annuity with survivor’s insurance so that you receive an income for life.
Notwithstanding the foregoing, you are completely free to contract another annuity product.
Explore other Possibilities
BARE OWNERSHIP
Receive a one-time payment in exchange for the sale of the freehold of your home and continue to use it for life.
REAL ESTATE ANNUITY
Thanks to a previously stipulated monthly payment, you will be able to meet those expenses that until now were not within your reach and continue to enjoy your home forever.
REVERSE HOUSING
Reverse housing is a flexible and efficient financial solution for seniors to monetize all the savings they have deposited in their homes.
SALE WITH GUARANTEED RENTAL
Sell your home and continue to enjoy it as a tenant, thus getting rid of the costs of being a homeowner.
REVERSE MORTGAGE
With the Reverse Mortgage you will receive a monthly periodic payment and the possibility of a one-time payment at the time of incorporation. You will retain ownership and usufruct of the house and will not have to repay the mortgage during your lifetime if you choose to do so.
HOW MUCH MONEY IS RECEIVED?
with City Malaga Financial Services ?
In City Málaga – Mas Vida we advise you, if you are interested in a Reverse Housing study we need you to send us the following information to our email andalucia@aunmasvida.es:
- Personal information of the interested party (copy of NIF, NIE or Passport).
- Documentation of the house (exact address of the property and the last receipt of the Real Estate Tax).
- Contact telephone number.
+ (34) 657 566 031 
+ (34) 952 85 1613Contact Us
We will get back to you as soon as possible