Hi everyone,
love any thoughts or information on my property situation. My husband and i have three investment properties that were poorly
set up several years ago. I am trying to fix the problem so we can start again with better structure and a better plan. So we have recently renovated a unit we have in Tassie so we could sell and pay some debts. We were having trouble renting it. I borrowed
the money to renovate from my parents and now need to sell to give it back. Its been on the market for about 2 months. I have lowered the price but the main drawback for selling seems to be the three flights of stairs and no lift. View is great. Anyway there is a first home buyer who wants it but the bank said no because of no savings records. So now to my questions,
can i offer her vendor finance? How long does it take to set up? How much does it cost? Is the first home grant given as a deposit or at the end in Tassie?Thanks
Hi Janine
Will come back with some answer to the Vendor finance questions later in the day but there are other lenders who will approve the loan upto 95% lvr even though the purchase may have NO evidence of savings.
Might be an idea to go that route initially and that use the VF option as a fall back position.
Richard Taylor | Australia's leading private lender
I am always happy to look at vendor finance purchasing I just bought 3 blocks of units this way, feel free to email me if you wish to discuss your sale.
Depending of what your trying to arcghive it may fit into my purchasing criteria.
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