Hi All,
My wife and I have found the house of our dreams and are having a meeting with agent tomorrow afternoon to discuss offer.
We have some cash but most of the money is tied up in our PPOR and rental properties.
I am hoping to get a 6 month settlement subject to us selling our properties, one rental property has been approved for subdivision and is about 2 months away from finish.
As I only have a low income, bridging loan may be not possible.
Another idea was offering to rent to buy, like pay a weekly rent and live in the house we want to purchase, while we market our other properties.The property we want to buy has been on the market for a while as it is in the top end of the market, hoping to get it for land value only.
Does anyone have any other idea’s we can offer to secure the property?
Any
djr
A option agreement to buy property
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Duckster,
Yes that was another idea that crossed my mind. Never done an option agreement before. Anyone care to enlighten me?Don
djr
have you checked out
http://www.sop.com.au/
I haven’t had time to check it out but it might explain options.An option might be something a solicitor writes into the sales agreement. You might need to check with a property solicitor.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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