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PRICE REDUCED FOR THE OVER 60's UNDER A HOME FOR LIFE PLAN
whitesatin
Posts: 2,102 Forumite
In the area we are looking to move to, the house prices are not cheap as it is a lovely coastal area. I've noticed that quite a few houses appear for a while at full price then show the RETIREMENT ONLY at a much reduced price for over 60s only, with the option for others to buy at the original price.
Do you think this is a sign that they are definitely overpriced in the first place (she hopes)? The houses range from 3-8 bedroom places.
Do you think this is a sign that they are definitely overpriced in the first place (she hopes)? The houses range from 3-8 bedroom places.
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Desperate sellers.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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I stumbled across this one yesterday.
http://www.rightmove.co.uk/property-for-sale/property-35426064.html
Surely a home for life need not be over £1 million? and if you are in a lucky enough position of afford something that is over £1 million, maybe you don't need a discount on it?0 -
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Wards, perchance? That one word should make you think thrice.0
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My 4 bed house was on with the EA mentioned above and I made a point that I did not want to do Homewise and refused to sign the form. They still put it on rightmove as Homewise and however much I complained they didn't remove it.I must remember that "Money Saving" is not buying heavily discounted items that I do not need. :hello:0
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whitesatin wrote: »Could you please elaborate?
Well, is the estate agent one of the Ward & Partners?
If so, then think once about going ahead. Think once more after that. Finally, I'd rethink the proposition again, one more time, very, very carefully.
Oh, and there is some small print....there always is... and some more on the back... and down there as well
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The price reduction is for some type of lifetime lease. once the owners die the house reverts back to the company providing the finance.
probably also means the normal asking price is inflated too. personally i would just ignore anyone selling a house this way as it just looks like desperation. When something looks like a scammy deal...0
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