Bought a house few weeks ago, agent wanted 10% deposit. I laughed at him and said 10k. The trouble then was, I didnt have 10k as I dont get the deposit from the house I sold, and dont get any $$$ until settlement.
On top of this, my lender demanded I lower my credit card limit. Luckily in this case I specified in the contract that the deposit would be paid 14 days after contract signing. day 13, I explained the situation to the agent & he agreed on a 5k deposit. so it went from 26k to 5k [biggrin]
I know Steve likes to do $100 but Ive found agents wont have a bar of it.
dont be afraid to negotiate EVERYTHINGhttp://www.posigear.8k.com
Positive Geared Share InvestingAnother way you could have achieved this is with a deposit guarantee. It only costs a small fee and they guarantee the deposit to the vendor. There is no security used for the guarantee, but you will have to pay if you do not follow through
Wayne Skewes
Mortgage Broker
Email [email protected]
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan Consolidation, Owner Occupied or Investment Finance. Free Service I come to you!small fee…..if you call 1.25% small……..thats $125…….an option yes, but not a cheap one
http://www.posigear.8k.com
Positive Geared Share InvestingYes I would say it is cheap as that is all you have to pay to secure a property which is a large amount of money $125 is not much in the big picture. Crikey if thats a lot I would defer purchasing a property
Wayne Skewes
Mortgage Broker
Email [email protected]
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan Consolidation, Owner Occupied or Investment Finance. Free Service I come to you!
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