OT: help needed re: financing a land purchase (long) - Saab General Bulletin Board - Saabnet.com
The banner above is an advertisment - if it asks you to download software, please ignore.
Site News -
[General |
Members |
C900 |
9000 |
NG900 & OG93 |
93 |
95 |
NG95 |
99 |
Sonett |
Vintage Models |
Clubs |
Other Cars |
FAQs |
Gifts |
Member Photo Galleries |
Member Directory |
Classifieds |
Manuals |
*Buddy Registry |
*Mileage Registry |
Polls |
What's New |
Raffle |
Photo of the Month |
Sponsors]
[Main General Bulletin Board | BBFAQ |
Prev by Date | Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
OT: help needed re: financing a land purchase (long)
Posted by 2saabs [Email] (more from 2saabs) on Mon, 16 Oct 2006 19:25:05
Members do not see ads below this line. - Help Keep This Site Online - Signup
So I want to buy land to retire in 10 years. It is going to be a high end development, still early in Phase 1 and lots being cleared, roads being put in, but still a long way to go before anyone can move in and still without state approval for water rights, but the county says that is not going to be a problem. The developer wants me to finance with them (a company with a satisfactory BBB rating), but acknowledges their interest rate will be higher, and then immediately refinance with someone of our own choice. In return, they will waive the closing costs, saving about 3K. What possibly could be the reason they want me to do this? My real estate lawyer suggests financing with them for little down since it is a risky deal (so early in the development) and they would be motivated to not let me default in case the deal fell through. But I bet I can get a few points better on my own and negotiate closing costs. Thoughts?
Posts in this Thread:
Members do not see ads below this line. - Help Keep This Site Online - Signup
Post a Followup
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
StateOfNine.com
|
SaabClub.com
|
Jak Stoll Performance
|
M Car Covers
|
Ad Available
|
Random Saabnet.com Member Gallery Photos (Click Image)
This is a moderated bulletin board - Posting is a privilege, not a right.
Unsolicited commercial postings are not allowed (no spam). Please, no For Sale or Wanted postings, SERIOUSLY.
Classifieds are to be listed in The Saab Network Classifieds pages.
This is a problem solving forum for over 250,000 Saab owners, so expect to see
problems discussed here even though our cars are generally very reliable. This is not an anything goes
type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the
Saabnet.com Mission and Purpose Page. Please remember that you are
not anonymous. Site Contact | Site Donations | Other Sites by SP -
Poverty2Prosperity.org | Run Club Menlo Park | ScreenBot
Site Members do not see red text instructions, bottom of the page anchor ads, or box ads.
Click here to see all
the Site Membership Benefits!