Adelaide houses.. Some vendor finance available

[duncan_m]

I'm selling houses in Woodcroft, Morphett Vale, and Glenalta in Adelaide and a brand new holiday house in Normanville.. I'm prepared to vendor finance up to 20% of the sales price. Nice way to get into some Adelaide houses potentially with no money down..

Please email me at [email protected] if you're interested in details.

 

[kph]

Out of interest, how do you get around the vendor finance laws currently in place in SA ?
Is it only wraps that is against the law over there, with vendor finance being allowable ?
And out of curiosity, why the decision to sell these properties now ?

kp

 

[duncan_m]

Out of interest, how do you get around the vendor finance laws currently in place in SA ?
Is it only wraps that is against the law over there, with vendor finance being allowable ?
And out of curiosity, why the decision to sell these properties now ?

kp

Installment contracts are illegal in SA.. this wouldnt be an installment contract.. title passes.

I'm selling for a range of reasons.

 

[Xenia]

Vendor financing: as in leaving 20% in the deal and wrap around mortgages are COMPLETELEY different and it's not only because the title passes, granting someone an option to purchase a property is a process where the title does not pass until exercise, again it is not an installment contract.

Installment contracts are illegal, vendor financing and options to purchase are NOT!!!

Many people get all these confused, they are black and white to me. Yes we do have property transactions in SA other than saving a 20% deposit and getting a bank loan for the other 80%.

 

[Jamie]

Vendor financing: as in leaving 20% in the deal and wrap around mortgages are COMPLETELEY different

Agree completely. And one reason I've always disliked wrappers calling their process "Vendor Finance" when its not.

Good luck with it all Dunc.

Jamie.

 

[MarkB]

Mr Margetts

I'm not in the market to buy some SA IPs, but if you'd like to take the time (perhaps in another thread) to explain the mechanics of a "Vendor Finance" deal I, for one, would love to read it.

M

 

[oc1]

I'm sure there are many others within SS who can meet your request as well Pitt St.

Cheers

Oscar

 

[geoffw]

Duncan

We would appreciate if you could post (a lot) more information about the properties you have for sale- not just "email for details" please.

Posting details will enhance substantially your own chances of a sale, and can help other forumites in working through details for themselves.

Although my flock of bats sold to an "outsider", I did geta number of enquiries through the forum.