Owners of some high end overseas Fly to Let properties who are looking to cash in their investment are attempting to encourage sales; they are agreeing a rent period first.

When a potential buyer makes an offer, it is written into the purchase agreement that the buyer will rent for a given period of time.

Should the buyer then renege the owner keeps the rental fee. If the sale goes ahead the buyer has the rental fee reduced from the sale value of the property.

Serge Cowan, MD Unique Living, said: “This is an excellent way for buyers to fully appreciate the property. It also allows owners to see some return should their buyer pull out before exchange.

“It must be noted however, that whilst a potential buyer is ‘renting’ he has to be aware that the owner may in some circumstances wish to continue having prospective purchasers view the property.”

Two current properties being offered on this sale and to let basis are a four bedroom villa in Cannes on the French Riviera, France and a five bedroom villa in Sierra Blanca, Marbella, Costa del Sol, Spain.

The French farmhouse style property with sea views has its own swimming pool. There is also a guest house and a caretaker’s house included in the price which has been reduced from €2,600,000 to €239,000.

The Spanish villa has recently been fully furnished and has a new fully equipped kitchen and a covered terrace overlooking the pool. Inside there is also an office, fully equipped gym and garaging for three cars. The asking price is €3,250,000.

Cowan added: “The current downturn in the property market across Europe is presenting some exceptional opportunities for smart investors in a position to purchase.

“Since January we have noticed a high level of interest far in excess of the same period in 2008, but whilst some are making exceedingly good investment buys others are hesitating wondering if the market has finally ‘bottomed out’ or are unable to meet an agreed price.”

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