Asked by Unsure
We have recently bgt a District 10, 99 years property, presently about 5 years, but am having cold feet about it, not because of problems with bank loan but because we aren't sure if we got in at a fair price - by that, we mean whether there's potential for upside. Banks valuation these days are fairly elastic and we aren't confident of the amount they give us. The discrepency can range up to 100K, as we were told for the unit we bought, when we called up 5 different banks.
The present sentiment towards the ppty market is still flagging "CAUTION" as the economic outlook is still uncertain. I was told by some agents that if we don't need a place urgently, we should just continue to rent (we sold our house in 2008) and wait. The 1% option has already been given and cheque has been cleared.
Can we flip the option to purchase and is it wise to just walk away and not sign the papers? Need some advice pls.
The present sentiment towards the ppty market is still flagging "CAUTION" as the economic outlook is still uncertain. I was told by some agents that if we don't need a place urgently, we should just continue to rent (we sold our house in 2008) and wait. The 1% option has already been given and cheque has been cleared.
Can we flip the option to purchase and is it wise to just walk away and not sign the papers? Need some advice pls.
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