buying house question.

H

home123

Guest
Hi, I've recently moved back to Ireland and intend to be self employed. I have circa 50k but have no income until I get things up and running so don't think i'll get a mortgage in the current climate.I am paying 700 a week rent and was wondering is there any way i could give 50k upfront on a house for sale and pay the remainder off at 700 a month and draw up a solicitors agreement on this. I am only looking for a modest property 85k to 110k and any thoughts on where I would advertise to look for an agreeable seller or any potential pitfalls to this?many thanks.
 
As hairbrained a scheme as I have ever heard. Keep the 50 grand in good despoit account. Get a job. Begin saving. The apply for a mortgage in 2 years.
 
liger79 said:
Lionstour, This system is very common in brazil. They also do property swaps all the time too.
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Might work for 1 bedroom appartments as they seem to had susstained the largest falls in the current bubble.
but with a great choice of rental properties and to avoid all related charges including a property tax renting is a more attractive option in the current climate
 
home123 said:
Hi, I've recently moved back to Ireland and intend to be self employed. I have circa 50k but have no income until I get things up and running so don't think i'll get a mortgage in the current climate.I am paying 700 a week rent and was wondering is there any way i could give 50k upfront on a house for sale and pay the remainder off at 700 a month and draw up a solicitors agreement on this. I am only looking for a modest property 85k to 110k and any thoughts on where I would advertise to look for an agreeable seller or any potential pitfalls to this?many thanks.
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You wont get what I would regard a modest property for that amount quite yet but give it time agree with the poster who says stick it on deposit for 2 years and wait til things are a bit more settled...plus who knows when you get used to being back you might get the urge to emigrate again! haha Why tie yourself to here?
 
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