No deposit house sale, with 5 years to settle
I am selling my house . its a 4 bedroom , 2 bathroom home in woolston . Its on trademe as listing number 1499031099.
10 steam wharf lane .
So here the deal I am thinking of.
The house has a registered valuation of $420k and a purchaser could make an offer of that value of $420k and settle the sale in 5 years.
I would want the prospective owner to sign a lease for that 5 years . Then after the five 5 years they need to get themselves a mortgage (say with kiwi saver deposit?) and settle up for the house .
There would be some other conditions as well. But the important understanding is this is not a rent to own scheme. You are not paying extra rent to build up a deposit , but you will be paying a premium rent.
You dont need a deposit in this deal. You will need to come up with the 420k in 5 years or something else acceptable to me at that time.
I expect the deal would best suit young people just starting out who need a house now but wont have a deposit (but should have one in say 5 years )
The purchaser gets to lock the price in now , and pay that price in 5 years.
The house is going up at 3.5% a year and will be worth in the order of $500K in 5 years , but the price will be $420k.
The canny will have already realised that they could buy and sell the house and make $80K
get in touch if you want more details. At his time I have not worrked all this thru and would be ahppy to talk about the idea with any interested party.
cheers
les
les.colins@xtra.co.nz
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Paddy Gower seeks ‘bloody great Cantab’
The Kiwi journalist drilling deep into the country’s biggest issues is on a mission to find the local greats.
Paddy Gower is looking for the Good Kiwi in every region to feature in his show, The F@#$ing News - Paddy Gower Live on Tour.
To nominate a Good Kiwi, email reporters@press.co.nz with the name and a description of why your nominee should win. You an also share the local issues you think Paddy needs to tackle in the comments below.
It could be the woman whose knitting circle has made 3800 items for victims of domestic violence, the guy running the length of Aotearoa for mental health, or the woman with terminal cancer who spends her time campaigning to raise awareness and save lives.
“Basically I am looking for ... a bloody great Cantab who just gets on and gets things done. The criteria is somebody who has a positive attitude and makes the community a better place," Gower said.
“I will give this person the 'Big Ups' they deserve, and the community can celebrate them with me.”
A Good Kiwi will feature in each of Gower’s live shows in 14 centres through November and December. He will name the Cantabrian Good Kiwi at his Christchurch show on the evening of Friday, November 22, at St Margaret’s College.
The F@#$ing News - Paddy Gower Live on Tour is a sort of book tour, sort of stand-up comedy, some journalistic yarns and memoir, and some motivational speaking - with a fair bit of local in each show.
Gower also wants to know about topics of interest in the region.
“I’m ... going to be taking on a big issue facing Canterbury and offering up solutions.”
A stinky suburb, a neighbourhood needing a round-about or a cathedral in disrepair - “I will make your views count”, he said.
“I'm touring the nation to spread positivity, optimism and good vibes.”
*For tickets to the The F@#$ing News - Paddy Gower Live on Tour visit paddygower.co.nz
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