Two real estate instruments that bypass banks/loans. | |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:08 PM Report Abusive Post Report Copyright Violation | |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:11 PM Report Abusive Post Report Copyright Violation | Additional information. If you are leasing or renting, be sure you have negotiated payment in lieu of US dollars understood between you and your landlord, whether the property is residential or commercial. Make sure the landlord can withstand financial collapse. Janus198 |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:12 PM Report Abusive Post Report Copyright Violation | |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:16 PM Report Abusive Post Report Copyright Violation | Additional information. The first six months after collapse of the American economy will the worst. Workarounds will be in development at that point, and those who can't or won't cope in a reasonable manner will be dead of the initial conflict that will result from the loss of ATM's, debit cards, credit cards, federal assistance payouts, etc. Church organizations will step up to assist. Last Edited by Janus198 on 03/08/2013 07:26 PM Janus198 |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:26 PM Report Abusive Post Report Copyright Violation | Additional information. The definition of wealth will change. Resources and commodities will become the new measure. Of resources, water will be key. After that, big families with loyalty to the family, able to work on production of necessities. Of commodities, will be wheat for bread, beef for meat and leather, sugar/salt, for seasoning, curing, beans to cut hunger, timber, hand tools and the ability to forge metal handtools, coal. Janus198 |
ANNONYMOUS User ID: 8415236 United States 03/08/2013 07:28 PM Report Abusive Post Report Copyright Violation | The private sale contract is commonly known as a Land Contract. The only problem here is that the seller usually is trying to get into a new home also and may require a slug of cash for a downpayment. Quite often the Land Contract has a balloon payment as well. The other downside to the LC is the seller now has 2 houses they are paying on and is forced to seek a conventional mortgage themselves. The downside for the buyer is that the LC usually is 2% or so higher than the conventional mortgage to cover the sellers risk. |
Anonymous Coward User ID: 6636654 United States 03/08/2013 07:32 PM Report Abusive Post Report Copyright Violation | |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:42 PM Report Abusive Post Report Copyright Violation | The private sale contract is commonly known as a Land Contract. The only problem here is that the seller usually is trying to get into a new home also and may require a slug of cash for a downpayment. Quite often the Land Contract has a balloon payment as well. The other downside to the LC is the seller now has 2 houses they are paying on and is forced to seek a conventional mortgage themselves. The downside for the buyer is that the LC usually is 2% or so higher than the conventional mortgage to cover the sellers risk. There is no way around these difficulties, as all involved are already trapped by bankers and the real estate is already owned, 'in defact' by the bankers. Negotiation between buyer and seller excluding loans is the only way to retain land ownership. Contracts between buyer and seller can be negotiated any way they please to effect reduction in ownership by banks, but huge amounts of money have to be paid to quash existing loans by banks/financial institutions. In these instances it is better to walk away. Eventually the banks will themselves fail, negating contracts, and the property will become available. One thing about land. It outlives all people. People including bankers. Last Edited by Janus198 on 03/08/2013 07:47 PM Janus198 |
Janus198 (OP) User ID: 875736 United States 03/08/2013 07:46 PM Report Abusive Post Report Copyright Violation | Native Americans have been negotiating 99 year leases of reservation lands for a hundred years with commercial enterprises. They also do 20 year and 30 year. Sunrise ski area in the White Mountains was operated on this type of lease by Ron Malfara for years. Logging enterprises have been negotiated by this instrument as well. Janus198 |