The problem that I see is that by putting the property in a wrappee’s name whilst that wrappee may barely have just put down a token amount as deposit, if he were to default then the wrapper would have to pay another lot of stampduty to get the property back in his name.

The facts are that to protect both the wrappee and the wrapper the following should happen :

1. the wrapper should obtain a statement, signed by the wrappee’s solicitor, stating that the wrappee has been properly advised regarding both his rights and obligations

2. the wrappee’s right should be protected via a
Caveat on the title.

3. the occupation fee paid by the wrappee should go into a trust account to start off, with an amount, equal to the loan repayment payable by the wrapper, paid from the trust account to either the wrapper if he has already made the payment OR otherwise direct into the lender’s loan account.

3. The wrapper should be able to switch lenders

4. the outstanding loan amount owing by the wrapper should never be more than the amount owed by the wrappee.

I cannot quite see how the above can be faulted.

The nonsense about ‘the poor wrappee’ being kicked out of the property is just that, rubbish.

If a wrappee has been properly advised before he entered into the contract he should not call out ‘Foul’ as there are other, innocent, people’s interest affected.

If the wrappee defaults it is only common sense that the wrapper can exercise his rights to protect not only the wrapper’s interests but also the interests of his other wrappees whose interests may be in danger of being detrimentally affected.

There is no room for complacency in this regards nor can the wrapper be expected to carry a defaulting wrappee.

There is of course nothing to stop so called do-gooders to start a benevolent fund to support wrappees who find themselves in financial difficulties.

Just don’t offload the responsibility for the problem onto the wrapper.

Whilst the do gooders are at it, they may perhaps also like to cover the problems of bank borrowers who get themselves in similar strife.

Amazingly perhaps to people like Bec, I would be happy to contribute to such a fund to help people who, because of problems beyond their control, find themselves unexpectedly in strife.

Pisces

Is he promoting it other than by having a photo in his window ?

Perhaps you ought to offer to pay for the advertisements ?

Also, sometimes an agent may, naughty, naughty naughty, use a particular house to make another house look more attractive.

Does your property look attractive from the street ?

If he has taken just the one person though over the last six months he can hardly object to you yourself getting involved as well.

Perhaops the problem is that the town is so small that there just aren’t a lot of prospective purchasers.

Have you tried to promote the property on websites ?

Pisces

I basically said so, Mysta, because in a small town the number of prospective buyers is a lot smaller, tradespeople may be harder to get and the cost of building a lot dearer (both from a material and a labour – i.e. tradespeople – point of view).

But, hey, if you think you can do most of the work yourself, go for it.

I’ve recently seen a house like that built by the owner at some ridiculously low price.

The idea of living in it and thus avoiding having to pay tax on any profits is a very good idea.

Pisces

What about ………. ?

‘Politicians are corrupt and, if they are not, they soon will be.’

Pisces

Here is another bit of wise observation, uttered elsewhere by Kinks :

In theory, there is no difference between practice and theory, in practice, there is….

Pisces

Yack said : “Steve – Have you placed Pisces on notice. I have seen a few of his/her comments over the past few months that seem to attack the person not the argument.

Like suggesting Bec go see a psychiatrist.”

Yack, there is no stigma attached to seeing a psychiatrist so what is it that you are actually saying ?

Are you questioning my judgement ? [blink]

Pisces

Sorry, Geo, I’ve never heard the man speak and doubt I ever will so I cannot supply any more wisdom from that source.

But I do think this could turn out into a good and most interesting thread so what about changing the topic name to something like ‘Some good sayings’ and I am sure that from time to time we will see some real gems.

Regards,

Pisces

It looks as if Mysta is saying that he sees an opportunity here.

However, unless one is a builder, I doubt there is. (Even then I have my doubts).

Anyway Mysta, I have no idea what you mean by ‘regional towns’. What size population ?

Pisces

Aussierogue, people who continually have a bee in their bonnet, are basically obsessed by their particular outlook, and aren’t therefore capable let alone prepared to conduct a reasoned discussion aren’t properly balanced.

Someone actually emailed me quoting Robert Kioysaki who reputedly made a statement once that goes as follows : “If you argue with an idiot then you have two idiots.”

Whilst I am well aware that there isn’t any sense knocking one’s head against a wall if the other party has not just a closed ear but, worse, a closed mind, my empathy for Bec as a human being
overcame my repugnance to her ravings to nevertheless make the suggestion to her that she really ought to urgently have a good check up just in case, for her sake if anything.

Virtually all her posts as far as I can remember have little or no value.

I hope you will display similar concern for your fellowman’s welfare, Aussierogue, whenever the occasion is warranted.

I dislike nothing more than armchair critics with little or nothing of value to contribute (other than criticism).

This is actually my last word about the Bec subject as I have decided to ignore any further posts from her.

Pisces

Steve, RugbyFan,

We are all wasting our breath trying to talk sense to Bec.

Until she has straigthened out her problems we are wasting our time and effort.

What is the saying again ? Oh yes, it goes like ‘None are so blind as those who don’t want to see’

Pisces