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  • Profile photo of kiaraSkiaraS
    Member
    @kiaras
    Join Date: 2010
    Post Count: 3
    January 22, 2010 - 6:28 am

    Hi Richard and anyone else to help me!

    Here is an offer i have just been presented with from a seller willing to give VF.

    Purchase Price $320,000  (usual VF is at least 10% above asking price, this is only 3.6% above asking price)
    Interest rate 8.24% (fixed for 3 years – could be good considering interest rates are on the rise again – this may even end up being better than a bank can offer you)
    After 3 years the rate will be market variable interest rate +2%
    Term 30 years –
    Repayments $497 per week (interest only) or $553 per week (Principal & Interest)
    Deposit is $10k (can accept First Home Owners Grant)

    What do you think?

    Thankyou!

    Profile photo of kiaraSkiaraS
    Member
    @kiaras
    Join Date: 2010
    Post Count: 3
    January 22, 2010 - 5:42 am

    Hi Richard,

    Thankyou for your quick reply!

    I will keep that in mind thankyou! Should this be part of the contract? That the vendor would recieve my FHOG at the due time? Or could I recieve that and then put in toward further payments toward the vendor?

    Any advice on my other questions?

    Thankyou so much, I have read many of your posts and greatly appreciate the time you spend helping all of us!

    Kiara S

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