About Casum
What is Casum?
Casum is a new way to buy your house, which allows you to gradually buy your house while paying rent for the part you haven’t yet bought.
Who is Casum?
Casum is a company created by Nuclio, a company that specializes in launching digital companies.
In addition to Casum, Nuclio has promoted other successful companies in the real estate sector such as Housfy, Finteca, Pro Hipotecas and Eelp.
The Casum management team has extensive experience in both the digital and real estate sectors, especially in residential rentals.
Is Casum a mortgage?
No, Casum doesn’t make you incur debt, like a mortgage. With Casum you have the option of buying a part of your house little by little, but you don’t have to, which is why you can choose a plan to buy more of it without having to borrow money.
Who does Casum focus on?
Casum seeks to facilitate access to housing for those who haven’t been able to save the initial amount required to access a mortgage, but who have payment capacity.
To access a mortgage, one needs to save up to 30% of the house’s value. This leads to a large number of people taking years to save the money required to buy, while they are forced to rent.
At Casum, we understand that there’s an unmet need in the market to allow people living on rent to make a gradual transition from the rental market to the property market.
With our flexible plan, we help these people, so they can initially buy the part of the house that they can afford with their current savings, and then gradually buy more of the house, without having to borrow, until they meet the mortgage’s conditions.
How can I get more information about Casum
At Casum we’ve created an exhaustive frequently asked questions section, which we update based on the new questions we receive.
We advise you to check out this section, but if you can’t find what you’re looking for or still have doubts, you can send us your questions at info@Casum.com
Also, during the house application and purchase process, we’ll contact you directly, so you can also ask our team during the process.
If you want to see concrete examples of how Casum works, you can see them in Casum’s search engine
How is Casum different from the traditional rental?
The main difference concerning traditional rental is that with Casum you can gradually buy part of the house.
By owning part of your property, you don’t have to pay a monthly rent for that part. Therefore, your monthly rent will always be lower than what you’d have to pay if you rented the entire house.
You can also buy the entire house from the investors, and this option is contractually regulated from the beginning.
How much does Casum cost?
Casum will be with you throughout the entire process, from the initial sale until you decide to buy the entire house (or decide to leave it). For all these activities, when the house is purchased, Casum will charge you 0,5% of the house’s price.
About our investors
Who buys the house with me?
![CDATA[Casum has a network of investors seeking to invest in real estate. One of them will buy the house with you.
Our investors are mainly investment funds and family offices looking for a long-term relationship, so their interests align with yours.
The conditions will also be contractually regulated to give you peace of mind.
How many investors will buy with me?
There is only one investor per house. That way, we can ensure that when we need the investor's decision in some aspect, the process is as agile as possible.
Will I have to deal directly with the investor?
No. Casum will be by your side throughout the entire process and will ensure that what’s contractually regulated is fulfilled.
If the investor’s decision is required (for example, if the boiler needs to be changed), Casum will manage it.
Application process
What do I have to do to apply to Casum?
First, you’ll have to register online in our system and complete some questions, which will allow us to understand your case a bit better and assess whether Casum can help you.
To start the registration, you can follow this link SIGN UP
Do I need to meet any minimum requirements?
To move forward in the application process, you need to meet the following requirements:
  • Have enough money saved to initially buy a part of the house:
    • 5% of the cost of housing if it costs more than € 200.000
    • € 10.000 if the house costs € 200.000 or less.
  • Have a joint annual gross salary of more than € 25.000/year (either if you buy it alone or with someone).
  • Not have any previously unpaid debt.
What documentation will I have to provide?
Before we start looking for a home we’ll have to confirm that you have the minimum initial deposit necessary to buy a part of the house (5%, with a minimum of € 10.000) and that you can pay the rent. To do this, we’ll ask for information about your income and debts.
The information we’ll request will be similar to what a landlord would ask for when renting a home.
How does the process continue once my payment capacity is validated?
Once your payment capacity is validated we’ll let you know if Casum can help you.
If we consider that Casum can help, we’ll send you a qualification report telling you the budget you can aim for to buy a home.
This information will allow you to focus your search better, so you can show us the homes you’d like and which are within the budget.
Home purchase
Can I choose my home or should I choose from among certain homes?
You can propose the home that you’d like and that is within the budget that we’ve indicated during the application process. You can choose the house from a real estate website or from Casum’s search engine.
Once you present a proposal, we’ll analyze it to validate whether we also like it, and if we do, we’ll send you the monthly rent calculation that you’ll have to pay every month to the investor, for his part. The rent will be calculated based on the area’s market rental for a house with similar characteristics.
What type of housing can I buy? Are there any limitations?
Even though we’re open to assessing different options, the type of house in which we’d be most interested would have the following characteristics:
  • With a price of up to € 300.000
  • Over 50 m2
  • With 2 or 3 rooms
At Casum, we aren’t interested in the following type of housing:
  • Sub-basements
  • New homes
  • Detached houses or Chalets
  • Housing with high community expenses
  • Housing with charges or rights that cannot be undone at the time of sale
  • Housing with serious structural problems or that require significant repair and/or maintenance costs.
We’re currently focusing on second-hand homes instead of new homes. The reason is that second-hand homes are easier to appraise, since there are usually references to similar transactions within the same building or in the area. In case of new housing, valuation is more difficult due to a lack of similar reference properties on which to base the estimated price, and because they’re usually located in development areas that tend to have a more volatile price evolution.
In which cities/areas should you buy?
Currently we’re focused on homes located in the metropolitan areas of Madrid or Barcelona.
At a later stage, we hope to expand to other locations in Spain.
What’s the minimum deposit I should invest at the beginning? And the maximum?
The initial deposit you must make must be between 5% and 20% of the housing cost. In any case, the initial deposit cannot be less than € 10.000
If you have more than 20%, you probably meet the necessary conditions to access a mortgage (or you’re not far behind), which is the objective that our clients typically seek to meet.
What is my deposit for?
The deposit allows you to own a part of the home from the very first day.
By owning a part of the house, you’ll save on rent for that part of the house.
Can I lose my deposit?
No, as long as you pay the agreed rent. However, if you make any default or leave before the minimum permanence period, your deposit will be used as collateral to collect the debts you generate or to compensate investor’s initial costs in case you leave the house before the permanence period.
You should also bear in mind that if after the permanence period you decide not to buy the house and it needs to be sold, the amount of the deposit that you’ll get back will depend on the final price at which the house is sold. So, the value of your deposit can increase if the house has been revalued or decrease if the house has depreciated.
When the home is initially purchased, how are the costs associated with the purchase distributed?
In addition to the house’s purchase price, a series of expenses are incurred during the home’s purchase: physical appraisal, real estate commission (if it isn’t already included in the price), notary, agency, taxes, property registration, etc.
Expenses that are directly attributable to one of the parties will be paid by that party and the joint costs (not attributable to one of the parties) will be paid pro rata between the parties; that is, each of the parties will pay the percentage of said costs equivalent to the home percentage acquired.
Do you make a physical appraisal of the house?
At Casum we analyze various aspects to ensure that the house has an adequate price in comparison to other homes in the same area and is in good condition so you can live in it.
Therefore, an important part is the physical appraisal of the house, which we’ll carry out at the end of the process, before buying the house.
The home’s physical appraisal will be carried out by an independent third party who specializes in this type of appraisals and has extensive experience. This independent third party is also used by banks during housing appraisal for mortgages.
Who pays appraisal costs?
The cost of an appraisal can vary and will depend on the area and the type of housing.
During the physical appraisal, you’ll pay the costs pro rata with the investor, so you’ll have to cover the proportion based on the percentage of the home you are buying with your initial contribution. So, if the appraisal costs € 400 and you’re initially buying 5% of the home, you’ll have to pay € 20 for the appraisal.
Keep in mind that you’ll have to pay your share of the appraisal, even if the property isn’t finally purchased. In any case, we understand that it’s always better to assume a small cost to assess the house physically, than to buy a house at an excessive price or with a problem that could lead to higher costs in the future.
Will Casum negotiate the property price with the seller?
Casum seeks to obtain a purchase price that is as attractive as possible for both you and the investor. Therefore, Casum will negotiate with the seller to obtain the lowest possible price.
If a lower price than the starting price is acquired, you’ll benefit from it because you can buy a higher percentage with your initial deposit and because you can make partial repurchases of the house at a lower price by having a lower starting price.
Do I have to sign a contract?
Yes. Before buying the home, you must sign a contract with the investor that stipulates each of the parties’ rights and obligations.
What is the duration of the contract?
The contract can last between 5 and 7 years. You can choose the duration that best suits your needs and saving capacity, so you can meet the conditions to buy the home (either with your money or through a mortgage).
Can I extend the duration of the contract?
To extend it, you’ll also need the investor’s consent. Each case will be different, so if you want to extend the duration once you’re already in the house, we advise you to contact us promptly to see if we can manage it.
Home rental
How is the monthly rental income calculated?
The monthly rent to be paid to the investor is calculated based on the market rental price of the area where the home is located.
To calculate it we rely on reports and independent agencies’ indices.
Once we’ve estimated a market price for your home’s rental, we subtract the rent from the percentage of the home that you own; the rent you pay will always be less than the rent you’d pay if you had to rent the entire house.
For example, if the housing market rental price is € 1.000 per month and you bought 10% of the house and the investor the remaining 90%, you’ll have to pay a monthly rent of € 900 (90% of € 1.000), so you’ll save € 100 per month (€ 1.200 per year).
Thus, as you buy more of the property, you’ll save more, which you can reuse to buy more of the house.
Can the monthly rent vary?
Yes. Variation in the monthly rental can be due to two reasons:
  1. If you buy part of the home from the investor, you’ll stop paying rent to the investor for the part you bought, so your monthly rent will decrease.
  2. As with traditional rentals, the rent of the part you have to pay to the investor will be adjusted once a year based on the CPI variation. So, if the CPI increases, your monthly rent will increase.
What happens if I can’t pay my monthly rent?
Before that happens, the best thing you can do is let us know so we can jointly assess your options before it’s too late.
For our part, we’ll treat each case individually and look for a case-based solution with the investor.
Keep in mind, that the non-payment of your monthly rent can lead to the loss of the purchase option and to having to resort to the part of the house that you purchased as consideration for the defaults you made and the associated costs in case the house needs to be sold.
Can I make changes to the house?
This is your home, so you can make any changes you want and decorate it to your liking. However, for major reforms, since they can affect the value of the home, you’ll need prior approval.
Gradual purchase of a larger part of the house
How can I increase the percentage of the house that I own during the duration of the contract?
You can decide to buy a larger part of the house at any time. Unlike the monthly rent, which is mandatory, there’s no minimum repurchase price, you can buy more of the house starting at one euro. There are two ways to increase the percentage of the house that you own
  • Establishing a periodic repurchase fee. This is the most advisable option to gradually increase the percentage that you own. You decide the fee, so you can vary it based on your needs and even eliminate it if you need to allocate money to other issues.
  • Specific repurchase. If you have some extra income (an extra payment, an inheritance, etc.) you can allocate it directly to buy more of the house as a timely contribution.
Annual home partial repurchase limit. Why is there a home repurchase limit for partial purchases?
At any time you’ll be able to purchase the whole house, however for partial purchases there’s a maximum annual limit for the home’s repurchase, 5%.
Casum focuses on profiles that want to increase the home percentage they own. Setting a maximum of 5% prevents Casum from speculative profiles that seek to only buy the home in case the prices go down.
A limit of 5% is more than enough for the profiles Casum aims to focus on. For example, for a € 200.000 home, 5% would imply a contribution of € 10.000 per year, in addition to the monthly rent that you’ll pay the investor for his part.
Do I have to pay any tax for partial repurchases?
The purchase of a home is taxed and varies depending on the province you’re located in.
Every time you buy a part of the property you’ll have to cover the taxes associated with that part.
If you aren’t sure, you can ask us for information during the application process.
At what price can I do a partial purchase?
The price at which you can buy more the house varies and corresponds to the house’s initial cost updated to the moment you buy more part of the house . To calculate the purchase price is taken as the starting cost and the average variation in the prices of the homes located in the area is incorporated.
  • For example, if a home is had a cost of € 200.000 and the homes in the area have increased by 2% in price, the price at which you can buy more of the home at that time will be € 204.000
Casum obtains the price variation for homes in the area based on reports and indices from independent agencies.Casum will regularly update the housing market price and inform you, so you can take it into account for your repayment plan.
Can the price at which I make partial home purchases decrease?
Yes. When the indices indicate that the sale price of the homes in the area has dropped, the price at which you can buy more of the house will drop.In any case, consider that these decreases will only apply for partial home repurchases, when you want to buy 100% of the home, the buyback price may not be lower than the initial purchase price plus investor’s purchasing costs.
Why isn’t it a fixed price?
If we establish a fixed repurchase price, not really knowing the evolution of future prices, the investor could demand higher repurchase prices than expected to cover any risks.
In addition, by establishing a fixed repurchase price, you’d have to buy the house while paying the home’s future estimated price from the beginning.
Can I register the new purchases made of the house in the property register?
Of course. You only need to request it and we’ll do everything so that the part of the house you purchased is updated in the property register.
Bear in mind that you’ll have to cover the costs of registering the part of the property that isn’t yet registered.
In any case, even if partial purchases of the home aren’t registered in the property register, they’ll be reflected in a private document.
Purchasing 100% of the house
When can I buy 100% of the house?
With Casum, if at any moment your financial situation improves or you have access to a mortgage, you have the possibility to buy to the investor the whole house instead of waiting until the rent agreement expires.
Therefore, you can buy 100% of the house at any time.
At what price can I buy 100% of the house?
The price at which you can buy 100% of the house is similar to the price when you make partial purchases. It is a variable price and corresponds to the initial cost updated to the moment you buy 100% of the house . To calculate the price of the house, the initial purchase cost of the house is taken as the starting point and the average variation of the prices of the houses in the area will be incorporated.

  • For example, if a house was bought for 200,000 euros and the houses in the area have increased their price by 5%, the price at which you can buy 100% of the house at that time will be 210,000 euros

Casum obtains the variation in the price of the house in the area based on reports and indices from independent bodies.The main difference in price between buying a part of the house or buying the whole house, is that when you buy 100% of the house there is a minimum purchase price, which is equivalent to the initial cost of the house (including purchasing costs).These purchase costs will cover costs incurred by the investor at the time of purchase (notary, registration, agency, taxes, etc).

Will Casum help me get a mortgage?
Of course. Casum's goal is to accompany you throughout the process, making life easier and aiding you with paperwork. As soon as you meet the conditions to access a mortgage, Casum will help you manage the application with various banks.
When I buy the entire house, what purchase costs should I cover?
As a buyer of the entire home, you must bear the costs of the entire process (physical appraisal, notary, agency, registration in the property registry and mortgage expenses in case of mortgaging) as well as all buyer-attributable taxes.
Can I leave the house early?
The investor who bought the house with you trusted you when they invested, so they’ll require a minimum permanence period.
Is there a penalty if I leave the house before the contract ends?
If you leave the house before the contract expires, the investor won’t have had time to amortize the purchase expenses he assumed at the time of purchase (registration, agency, notary, taxes, etc.).
Therefore, to ensure that the investor isn’t harmed, if you decide to leave the house before the contract expires, you must pay penalties to cover the expenses that the investor incurred and which haven’t been amortized to that date.
After the permanence period, you can leave the house following the established process.
What happens if I want to leave the home after the permanence term?
Casum focuses on customers who want to buy a home and our goal is to help you get 100% of it. However, you’re not obliged to buy it. Therefore, once the contract is completed, you’ll be able to leave the house.
To leave the house you must follow this process:

  • Tell us that you want to leave the house.

  • We will contact the investor, so he can assess if he is interested in buying you your part of the house. The investor will have two months to decide if he is interested in buying the house and in case he is interested, he will have 3 extra months to execute the purchase.

  • Once the house is sold you can stop paying the monthly rent.

If I leave the house at the end of the contract, will I recover some of the money invested?
Yes of course. As you own a percentage of the home, you’ll receive the amount of the sale proportional to your percentage.
Therefore, if the house is revalued you can receive more money from your contribution. And vice versa, if the price of housing has devalued, you’ll recover less money than what you invested.