Reply To: Selling Contract before completion??

#66980
Anonymous
Participant

A lesson to be learned here.
Firstly, good luck and hope you can get things sorted.
Now the lesson.
Say Purchase price 100.000
Deposit 50.000
For 3 years, loss of earned interest could be 7.800 @ 5%
Let’s assume a 10% increase in sale price, if you are lucky, especially today, the way the market is.
Profit on sale 10.000
Legal fees on purchase and sale, plus taxes, etc.
Result, if all went well and able to find a purchaser at the new price…. a loss, just for a developer to be allowed to play with your money.
Certainly the current times are not to buy with making a profit in mind, just buy to enjoy it.