All Topics / The Treasure Chest / web trade exchange

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  • Profile photo of stargazerstargazer
    Participant
    @stargazer
    Join Date: 2002
    Post Count: 344
    August 25, 2003 - 10:14 am

    hi all

    have any of you dealt with trade dollars to buy or sell real estate. Or heard of them.

    http://www.webtradeexchange.com i beleive it is becoming quite common in the market, even the banks accept them as a deposit etc.

    be interested in your responses or experience.

    regards
    alf

    Profile photo of DanTheManDanTheMan
    Member
    @dantheman
    Join Date: 2003
    Post Count: 100
    August 25, 2003 - 10:36 am

    alf,

    I’ve never heard of them, can you tell us what you do know[?]

    Dan.

    If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.

    Profile photo of kaydeekaydee
    Member
    @kaydee
    Join Date: 2003
    Post Count: 29
    August 25, 2003 - 12:14 pm

    Don’t know anything about that specific group but was heavily involved in bartercard for a couple of years. Bartercard use trade dollars to purchase or sell items including real estate. My opinion is BE VERY CAREFUL! You can quite quickly get into the situation where you have all these trade dollars that you can’t pay your mortgage, insurance, management fees, or even live on. They can be more of a liability in my opinion than helpful. As for the banks accepting them as deposits, this seems to be more that they are accepting that a deposit in kind has been made rather than in actual dollars – again be very careful. The banks won’t accept them to pay your mortgage payments that you can be sure of.

    Good Luck

    Profile photo of stargazerstargazer
    Participant
    @stargazer
    Join Date: 2002
    Post Count: 344
    August 25, 2003 - 11:25 pm

    hi

    i have had a few people interested in my property from sydney and they all have these trade dollars to deal with. Some have extroadaniry amounts.

    generally they will over the purchase price or close to it and 20% on top

    so for eg.
    asking price 150000
    may offer 140000 + 20% 28000 trade dollars total for property $168000

    This is the figure that you have to declare for capital gains according to the ATO purposes if its required $168000.

    Its like another currency check out the website that i posted.

    This is all new to me too obviously the wheeler dealers always find ways.

    I dont know much about it but have put some questions to them via the net.

    regards
    alf

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974
    August 26, 2003 - 6:46 am

    Hi there,

    Interesting concept. I have actually heard about web dollars, but not sure how this translates to buying a house and paying off a mortage.
    Any info would be enlightening.

    Cheers
    Sooshie [:)]

    “small steps make the journey” (SAS)

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