Forum Replies Created
- harb wrote:Sorry to burst your bubble unmester but the fact is that interest is coming down and we won't see 9% for a very long time. If the crash did not happen with rates going up then there is FA chance of a crash with rates falling. (yes I know, the banks will not pass them on.
)Interest rates are on their way down because of legitimate concerns that the credit crunch is flowing through to the "real" economy". A downward cycle is far from an indicator that things are rosey.
midri wrote:Hello, we have received an offer for our property, but the buyer wants to do put a "price apportionment clause" on it. He will pay one amount to us, which we are ok with, but he wants to put in the sale price or contract price a much higher amount as he says that will cover the stamp duty, fees and other improvement he wants to do to the house. My solicitor does not want to do such a contract and he says that it is not legal to put a different price. The buyer has come back saying that my solicitor does not know what he is talking about and that it's a common procedure.Also what are the capital gain consequences on that considering that it's not our main residence, will be asked to pay CGT on the whole amount or only on what we receive?
Anyone can advise me on that?
Thanks in advance for your reply.Say you're fine with it as long as it is clearly disclosed in extra large font in the contract.
Wait for the buyer to run away but not before finding out where else he has bought so you can avoid getting stung by misleading previous sales data.
Put your solicitor on retainer becuase you've got an honest one.
AimHigher wrote:Hi AllDoes anyone have any idea where or ho I can obtain lisitngs of foreclosure properties?…Or is that a really stupid question?
Interestingly, speaking to a mate the other day and the current theory around some of the banks is to ensure the properties are advertised as mortgagee sales as it has been creating greater interest and better sales results
michaelparis wrote:trustieone wrote:Hi Folks
The bank has valued my IP property for loan purposes and agrees to lend me the funds but wont tell me or the previous vendor what that value is, i remember back some time reading that this is a regular occurence with lending institutions, can someone tell me why this is such a secret with the banks.
ThanksSo they can control everything. In their fees you've actually paid for the valuation, so it is your right not only to know, but to expect a copy.
Ask them again to provide a hard copy for your future reference and as a benchmark for future valuations if you wish to use equity growth as another deposit to buy again.
You will get the reply, it isn't our policy……..push them and demand one or tell them you will go to the banking ombudsman or similar.
Generally speaking, the terms agreed between the valuer and the bank restrict the use of the valuation to the latters assessment of credit (if you get hold of a bank-ordered val. you will often see it on the terms of use). Obviously, the valuer wants to limit their liability for the advice they provide only to the person they provide the advice to rather than create exposure to a buyer/borrower who subsequently relies on the val. without their knowledge
There ain't no conspiracy
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