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Lump sum offer and installements
ma9gm
Posts: 88 Forumite
Hi,
I've had an offer on our house. But due to the amount of mortgage the guy can get approved, he's offered £30k less, and said he'll pay the £30k in £2k instalments each month.
Is that actually something you can do? Or does it just open up a while world of risk and problems. E.g. what happens if he just doesn't pay etc...
I've had an offer on our house. But due to the amount of mortgage the guy can get approved, he's offered £30k less, and said he'll pay the £30k in £2k instalments each month.
Is that actually something you can do? Or does it just open up a while world of risk and problems. E.g. what happens if he just doesn't pay etc...
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Comments
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World of risk & problems. He needs to find a cheaper house and you need another buyer!0
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lincroft1710 wrote: »Yes .
Ok, so it's probably a too good to be true thing.0 -
now apart from all the many many many issues here.
If he has £2K per month of disposable income to repay this monies. Why does he not tell his lender this.. an additional £24Kpa after tax income is sure to allow additional borrowings of £30K.
I smell something.. and I don't think its sheep or pigs poo.The only place where success comes before work is the dictionary…
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Ridiculous suggestion....0
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Makes you wonder how.... honestly earned this £2,000 is, such that he can pay you all this dosh, but can't declare it for a larger mortgage....
No. NO!!!!
Clear enough?
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Run for the hills... Hopefully your solicitor would tell you the same thing anyway.
Jx2024 wins: *must start comping again!*0 -
:rotfl:You could always offer him access to the front room on payment of the main amount, then open up other rooms as he pays for them0
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