This is something Qing and I had to deal with lately . Looking for a House , that was moderate .. not too old and had some Charm .
Now this wasn't for us , but for Qing's Sister in-law ( brother's Wife ) which is due to Visit us next week . The main reason , besides visiting us , was to check out the House we found and buy it Cash .
This taught us something , well actually it was them that were learning it is NOT at all .. like it is in Shanghai . So what is now the difference , between there and here . Easy , they are use to buying almost everything with Cash and not on Credit like we love to do . Buy now .. pay later Plan .
As some of you know , in China .. everything with a Price Tag is open for Bargaining to seal the Sale .
The same goes for buying a House , when my Brother in-law bought their Apartment .. they themselves struck a Deal between the seller and him .. not the Bank . Agree on a Price , fill out some Paperwork and it's yours . This is what he is use to .
Now the last few weeks , Qing and I showed him OUR way . Choosing between Short-Sale - Foreclosure - REO , this proved to be not as good of a choice like they have . So we started out with a beautiful House near ours ( short-sale ) . Here we start , first comes the Offer ( Bid ) from us . Over a week goes by and we finally get an Counter Offer from the Seller ( not the Bank ) , he want's 2% of the Sale price of the House for "His" legal fee's . After all , why should we pay for something .. He chose to do .. instead of going into Foreclosure with the Bank .This , nobody in the Real Estates Business have heard of this ? So we agree to please him . Now we thought , now we need to please the Bank with our above selling price offer . Haha .. it never got that far . After two weeks , we were turned down . The Seller , actually had the nerve to ask if we wanted to be "HIS" back-up / Back-up for WHAT ? Wait to see if the one he picked get a ok from the Bank .. if not he'll come back to us .
Sure thing I thought (NOT) , wait 6months to who knows how long Short-Sales take and he wants us to hang around to see . I told my Agent , he can have his Cake and Eat it too .. does he think we are Fools ?
This gone , now we need to look all over again . by now the Brother has had a taste of how we do House buying here . To think , we only scratched the surface here . I think , they are tired already .. as Qing's brother said .. boy .. they Bargain ( with the offer ) and then tell you No Good ! In other words , they have thought .. come with Money to buy a House and two weeks later .. leave having it all done in your name .
Oh yeah , I remember those days .. but when most stuff that required Paperwork was a lot easier . Thanks to Computer's , things are moving much .. much faster for everybody .
Now this wasn't for us , but for Qing's Sister in-law ( brother's Wife ) which is due to Visit us next week . The main reason , besides visiting us , was to check out the House we found and buy it Cash .
This taught us something , well actually it was them that were learning it is NOT at all .. like it is in Shanghai . So what is now the difference , between there and here . Easy , they are use to buying almost everything with Cash and not on Credit like we love to do . Buy now .. pay later Plan .
As some of you know , in China .. everything with a Price Tag is open for Bargaining to seal the Sale .
The same goes for buying a House , when my Brother in-law bought their Apartment .. they themselves struck a Deal between the seller and him .. not the Bank . Agree on a Price , fill out some Paperwork and it's yours . This is what he is use to .
Now the last few weeks , Qing and I showed him OUR way . Choosing between Short-Sale - Foreclosure - REO , this proved to be not as good of a choice like they have . So we started out with a beautiful House near ours ( short-sale ) . Here we start , first comes the Offer ( Bid ) from us . Over a week goes by and we finally get an Counter Offer from the Seller ( not the Bank ) , he want's 2% of the Sale price of the House for "His" legal fee's . After all , why should we pay for something .. He chose to do .. instead of going into Foreclosure with the Bank .This , nobody in the Real Estates Business have heard of this ? So we agree to please him . Now we thought , now we need to please the Bank with our above selling price offer . Haha .. it never got that far . After two weeks , we were turned down . The Seller , actually had the nerve to ask if we wanted to be "HIS" back-up / Back-up for WHAT ? Wait to see if the one he picked get a ok from the Bank .. if not he'll come back to us .
Sure thing I thought (NOT) , wait 6months to who knows how long Short-Sales take and he wants us to hang around to see . I told my Agent , he can have his Cake and Eat it too .. does he think we are Fools ?
This gone , now we need to look all over again . by now the Brother has had a taste of how we do House buying here . To think , we only scratched the surface here . I think , they are tired already .. as Qing's brother said .. boy .. they Bargain ( with the offer ) and then tell you No Good ! In other words , they have thought .. come with Money to buy a House and two weeks later .. leave having it all done in your name .
Oh yeah , I remember those days .. but when most stuff that required Paperwork was a lot easier . Thanks to Computer's , things are moving much .. much faster for everybody .
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