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Thread: Rent 2 own

  1. #41

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    it was listed for what i'm liable to the bank for the property. I've come hear looking for ideas and its been a waste of time so far.
    can you elaborate on #33?

  2. #42
    Join Date
    Aug 2010
    Posts
    2,630

    Default

    Forget 33 - not relevent.

    I feel sorry for your predicament, and although it's not much help, you're not the only one to in NZ, or indeed the western world, to find yourself with a mortgage greater than the value of your home. Is the rent paying the mortgage? If it's cashflow negative, can your income support the shortfall? You need to weigh that up against the loss you would take if you sold for under the mort value and repaid the bank. Or wait for the bank to call it in and mortgagee the property.

  3. #43
    Join Date
    Aug 2010
    Posts
    2,630

    Default

    Also, you're more likely to get decent replies if you pose a decent question with specifics.

  4. #44

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    Quote Originally Posted by Zara View Post
    it was listed for what i'm liable to the bank for the property. I've come hear looking for ideas and its been a waste of time so far.
    Sounds like you have bigger problems then this thread being a waste of time, you want ideas now? heh funny that
    Ive read the thread and still dont no what you want to know. I mean talking about rent to own in general are we?
    Maybe set the tone from the start.
    Where to you stand on the subject, what side are you more interested in selling or buying. What sorta area are we talking about?
    What about the contract? repairs, If you find a buyer for cash, can renters walk away.
    This is a forums not yahoo answers get personal.
    OR i could just write YES and then what ???

  5. #45
    Join Date
    Oct 2005
    Location
    Auckland, NZ.
    Posts
    621

    Default

    I'm finding this a most peculiar thread.

    Please continue.

  6. #46
    Join Date
    Aug 2010
    Posts
    2,630

    Default

    For your amusement
    these posts are not
    They're meant to help
    Zara - a lot.
    Get thy behind
    back to Lucerne
    counting francs
    and punishing any honest bugger who tries to work there and gets booted out by the "foreign police" for not going thru the normal channels can I help it if they don't check passports thoroughly at the border well can I?

  7. #47
    Join Date
    Oct 2005
    Location
    Auckland, NZ.
    Posts
    621

    Default

    We've all had our fun with the polizei mate.

    Agree - they are particular fond of the auslanders!

    Ever thought of getting into the rapping business?

  8. #48

    Default

    Quote Originally Posted by Zara View Post
    it was listed for what i'm liable to the bank for the property. I've come hear looking for ideas and its been a waste of time so far.
    You could drop the price by the equivalent of the agent's commission and try to sell privately.

    Ask your lawyer about whether you will need your bank's permission to sell for less than the mortgage amount.

  9. #49
    Join Date
    Apr 2005
    Location
    Auckland / Cappadocia, Turkey
    Posts
    2,312

    Default

    What a bizarre thread! LL was obviously having a bit of fun with you. Was it a full moon?

    Zara - honestly, if you want some decent help, you have to ask proper questions. Give us some context of what you are asking, and why. From what I've read in this thread, it's like playing some bizarre game of 20 questions with a bit of mind-reading thrown in.

    Why don't you just describe whatever your situation is, and what you trying to find out. You have an intelligent audience here (well... they are usually!) who are normally keen to help. But help yourself by putting forward an intelligent post. People are going to find it hard to take you seriously otherwise - as has been proven here.
    Lisa

  10. #50

    Default

    OK team.
    I bought my first house just before the GFC, the property has had a few maintenance problems, expensive drainage problem fixed.
    I put the repairs on the properties mortgage.
    If its tenanted there is a large shortfall after rent comes in and i am sick to death of paying it, i've been trying to get rid of it for what it owes me with 3 different agents, its leaching $200 a week at the moment with a good tenant in place.
    My friend knows this guy that sells houses with finance to people that don't qualify for a mortgage with a bank or not enough deposit yet.
    Im clueing myself up before his visit. I believe its just like DTR with whiteware etc and i have spoken to a few lawyers and
    have found lots of info about Rent 2 own on google but none yet from public. what are your thoughts on this? have any of you been in a similar situation?


 

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