House buy in Guia de Isora Canary Islands

Guia de Isora, Tenerife. Bank Valuation 225,000. Selling for 135,000 euro. Our clients and property owners (both in their early 70s) are willing to offer a substantial for the sale of their property, in exchange for allowing them to remain living there until their days have passed. Ideally, for this property which comes with a discount of 50%, our buyer will make a one-off payment. We are confident that the owners will listen to some realistic terms, but only for a buyer who can see the potential of this deal. There is already a mortgage of 50,000 in place. We can speak to the bank about the possibility of the new buyer assuming this deal, meaning you may only need to find a 70,000 downpayment. A deposit of 3,000 secures the deal, with the 10% payment expected within 30 days. The house is 3/4 bedrooms over 2 floors (although the garage has been converted into a lounge due to lack of access to the garage). 1st Floor contains: * Lounge * Dining Room * Bathroom * Hallway * Kitchen * Back Kitchen/Utility Room 2nd Floor * Double Bedroom * Large single bedroom * Bathroom The previous owner made 2nd single bedroom and bathroom into a large bathroom which the current residents changed back to the original bedroom and a smaller bathroom. Ground Foor/Garage * Large Lounge with patio doors leading to outside patio area * Double bedroom/Office * Utility Room. * There is no garden but a large patio and room for seating. Piedra Hincada is an urban village approx 15 minutes from Playa de las Americas and 10 minutes from Adeje and all main supermarkets... Mercadonna, Lidl, Aldi Hiper, and the Trebol Spanish-style supermarket. There are 3 bars/restaurants in the village, shops and a hairdresser. The property is located on the main street right in the heart of the action. Located on a bus route, it is also close to the church, a primary school, a football pitch, and tennis courts. It is a quiet village approx 5 minutes from Playa San Juan and the beach. Why is this important? These are the very reasons that the next buyer will be interested in investing; the location is ideal for renting, living, holiday stays, or indeed reselling in the future. The new owner will guarantee and maintain the Usufruct in exchange for the terrific price. That means you can't just show up and live here. The usufruct is a common clause in Spain, Italy,and France. This legally binding agreement, signed by the public notary in Spain says that our clients can live in the property or rent it, free of charge, for the rest of their lives, until they move or enter permanent state health care. We promote win/win deals for our buyers and sellers. Here, our sellers achieve something the high street banks in Spain cannot do; Equity Release. They will have cash flow while still enjoying their new life in Spain. The investor too wins, with a tax-efficient investment on the beautiful island of Tenerife, while doing some good for our pensioner sellers. .