Quote:
Originally posted by Aashu
http://jeevanpunni.com/
i have no intention of advtg this !
I've heard this guy on the 530AM in the mornings.
Do you seriously think there's something like 2 years maintenance free etc.
It's right on his website, it's a 2 year lease back.
Here's a definition of leaseback from Wikipedia http://en.wikipedia.org/wiki/Leaseback
Leaseback arrangements
After purchasing an asset, the owner enters a long-term agreement by which the property is leased back to the seller, at an agreed-to rate. One reason for a leaseback is to transfer ownership to a holding company, while keeping proper track of the ongoing worth and profitability of the asset. Another one is for the seller to raise money by offloading a valuable asset to a buyer who is presumably interested in making a long-term secured investment. Leaseback arrangements are common in the REIT industry.
-----------------------------------------------------------------
SS
Reiki Grand Master
Same old formula with new name. terms like VIP access, Developer's reserved units, Platinum Agent's options, preferred prices, before opening to public and blowout sale all are same. Few units are allocated on bit lower prices to some RE agents to attract the customers and thus quick funding.
The 2 Year no taxes, no maint. , leaseback programs, are all pre-possession / pre-closing incentives. In this case it means that possession will be after 2 years and till then you do not pay property taxes/ admin fee. Ofcourse you will not live in the condo as well during that time.
Having said that , still in case you want to buy a condo and can wait for couple of years to take possession, you may go for above option. There are advantages, Such options also give you chance to collect the 20% equity over a period of time, plus you get 2-3 years of hold on current amortisation/rate plans which may be tightened in coming years etc.
Location: God's own country
Posted on: 18-09-12 08:13:03
Any updates on this one ?
The offer sounds hilarious (esp. when it is from a person from a Desi background. Same would go when it is from a person of Nigerian - scam- background).
Peace
-----------------------------------------------------------------
I am a Gents and not a Ladies.
The only catch is closing is in 2015/2016 - that's too far from today!!! Oherwise it's a good investment.
