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Which option would you pick?

mrgaa1 · 2009-05-06 11:38:06

Lets say that you want to buy and have found the place where you want to live. The house has been discounted quite a few times and you know its for you. Which one would you pick - given the mindset that you want to buy? A: Turn up with a mortgage approved for 30% less than asking price and waive it in their face and see…

06-05-2009 11:38am

#1

mrgaa1

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Lets say that you want to buy and have found the place where you want to live. The house has been discounted quite a few times and you know its for you.

Which one would you pick - given the mindset that you want to buy?

A: Turn up with a mortgage approved for 30% less than asking price and waive it in their face and see how quickly they snap your arm off?
B: Find out that the developer will discount the house price by the amount of deposit required - no deposit to pay
C: Mortgage is paid for 1 year plus no deposit to pay - as per option B
Or another suggestion

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Comments

#2 06-05-2009 12:00pm

ionapaul

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I think I would want to pay a deposit to help avoid negative equity in the event of a protracted downturn, so I'd just try to drive down the sale price as much as possible before signing a contract. I think that is close to option A.

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