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Vendor Financemrtender [8 Posts] Has anyone every heard of a scheme like this? I dreamt it up last night after a bottle of red House Purchase $400,000 Offer to vendor .... Pay full asking price on 20% Vendor finance payable in full in 2 years (with no interest) Vendor Finance = $80,000 Cash needed = $15,000 If the vendor agrees, then they would hold a 2nd mortgage over the property. The $80,000 is payable in 2 years. I know many vendors would say "no thanks".... but some might be open to it if they are not getting any offers. In 2 years it may be possible to refinance and pay the vendor through borrowed funds. Brilliant? Or dreaming? Terryw [6479 Posts]  Hi This is fairly common. I have a friend buying the commercial shop which they are renting by using this method - and they will be paying less than the rent they are paying now and will end up with the property. Terryw   |
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In The NewsNo Housing Revival Just Yet! Auction clearance rates slumped again over the week-end leading experts to advise investors that they will have to wait another year for a revival in the housing market. RBA Slashes Rate RBA announces the biggest rate drop in 13 years - down 1%! Gazumping running rampant! Australia's housing shortage could fuel a new round of illegal rent auctions according to the HIA. The undersupplied housing market has forced rental prices up and escalating prices means Gazumping - where a seller continually raises the price - a method which is both informal and illegal is now rampant in most capital cities. Today's Tip"OPM" means Other People's Money <more> Active forum topicsEstate agent fined $20k for underquoting Author: Phorsha Rents going up.... Rates going down... Author: wallyt99 Who's OnlineTake The Test
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