Construction financing without equity as an option?

  • Erstellt am 2022-04-30 18:46:25

Benutzer 1001

2022-04-30 19:13:51
  • #1
Financing already signed? If not, the interest rate is never correct.
 

Joedreck

2022-04-30 19:17:38
  • #2
Even with additional costs and reserves, more than 3k remains. If the cars were paid in cash and there are no other liabilities, it sounds feasible. However, the question is whether you can manage with that. And only you can answer that. I also wonder why the house is so cheap in comparison.
 

Snowy36

2022-04-30 19:17:44
  • #3
I don't quite understand the bank's offer yet… is it really current? If yes, go for it!

However, I would like to join my predecessor: nobody gives anything away for free, why is the [Haus] so much cheaper than the market value? Definitely have an expert take a look.
 

jermotenner

2022-04-30 19:17:48
  • #4
No! This is an older offer, but we were basically able to "secure" the interest rates! It kept getting postponed because the elderly woman was sick and the notary appointment was rescheduled.

The house itself is great, was there with an appraiser etc. everything very well maintained, it is an older lady who doesn't need much money and simply wanted to do something good for a young family. The house was never actually on the market.

So the interest rates are not "from today," but already a bit older, but as mentioned, they could be secured by the house bank. However, if we sign on Monday, we would get the new conditions, hence the question here whether we should do it or not. If not, then the offer is gone and nothing would happen with the house for another five years.



There are actually no other liabilities at all, except for the monthly costs: food, heating etc.
 

Snowy36

2022-04-30 19:23:15
  • #5
On Monday you would receive the new conditions and they would then be like?
 

alterego134

2022-04-30 19:24:46
  • #6
Sure, are you certain that 100k is enough for renovation? When I look at the comment "Effizienzhaus, Wärmepumpe" and the current difficult situation with craftsmen and building materials,
 

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