This little baby! Hoping to make kick-ass pics...
Your latest purchases
- Thread starter BigFoot
- Start date
- Status
A new casual Jacket for myself, and a bottle of Scotch as a birthday present
Ok, let's see if I understood the process well, it's all new for me too. =)
You make a bid. If it is accepted, you sign a sales agreement, as well as a deposit (usually 10%).
After this, all the necessary paperwork and blabla is done by a notary's office, which usually takes 3-4 months. Only when the final documents are ready, both parties sign and transfer the necessary documents (the deed, plus the necessary certificates) in front of the notary, with transfer of the rest of the money (+ notary & registration fees, which are a fixed percentage of the price).
During this period, you can still get out of the sales agreement, but you lose the 10% deposit in indemnities.
There is an additional "escape clause" in my agreement stipulating that if my bank (or a bank, in fact) declares within 3 weeks of signing the agreement that they can't give me a mortgage, the agreement is annulled and the deposit is returned without costs.
That's really different to how things are done here. Interesting. Here, people generally have the mortgage agreed in principle before even making an offer, and then there's a relatively brief period in between the offer being accepted, contracts being drafted and monies forwarded. It can still take months to actually close, if there's a chain or other issues, but in theory, it can be extremely quick (I think I closed the buy-to-let I purchased a few years ago in less than 3 weeks since it was all very straightforward, and even that could have been quicker if I'm been in a hurry).
I purchased Elvis What happened dvd,Elvis Presley the complete 1950's.
Holdfast, I believe this is pretty close to what the US system is as well. However, the time from the acceptance of the bid to final transfer here is usually thirty to sixty days, during which someone also researches the home's title to ensure that all liens against the home's title are taken care of at the actual transfer.
How do things work over there with the 99 year leases instead of titles?
99 year leaseholds are rare nowadays, at least in my experience. Most leasehold titles these days tend to be much longer, of the 999 year variety (both my own place, and the buy-to-let I own, are on 999 year leases... well a little less now!). In practice, there's no real difference (apart from contractual) between how these are bought and sold compared to the freehold titles that make up the rest of sales, as a 999 year lease won't have any impact on house prices the way a 99 year lease would.
The overall purchase system for both the leaseholds and freeholds is the same as I mentioned above, except the mortgage company essentially holds the title to the leasehold rather than the freehold until you pay it off.
The only experience I have with a 99 year lease is for a piece of property with a cabin located along a river in the Colorado Rockies. It's government land so they can't sell it outright. It's a family place, so we all share in its use and the expense. The lease expired in 2001, but we renewed it for another 99 years. What I can tell you is that annual lease rates changed significantly between 1902 and 2001. 
Other than that I've always owned my property outright, land, buildings and all.
Other than that I've always owned my property outright, land, buildings and all.
The only experience I have with a 99 year lease is for a piece of property with a cabin located along a river in the Colorado Rockies. It's government land so they can't sell it outright. It's a family place, so we all share in its use and the expense. The lease expired in 2001, but we renewed it for another 99 years. What I can tell you is that annual lease rates changed significantly between 1902 and 2001.
I can imagine!The problem with 99 year leases is that the resale value of the property declines sharply, and rather swiftly. 999 year leases don't really have this problem, and in effect function equivalently to a freehold. But I can appreciate the psychological preference for freeholds; my dad's place is a freehold, and when he received the title deeds back from the mortgage company it meant something. Getting a leasehold title back won't quite have the same effect...
Talk about a flashback...I just bought Voyagers! - The Complete Series on DVD
$48 dollars worth of game cards and food at an arcade, for my nephew.
CHRIST.
CHRIST.
Awesome. Totally awesome.
Thanks!
I'll be getting a custom aluminum stand for it too.
Tim, that is amazing 
I got my 4-disc ROBERT KLEIN: THE HBO SPECIALS 1975-2005 today. I haven't seen "Child Of The 50's, Man Of The 80's" since 1984, and long remember it as one of the most side-splitting concerts ever Amazon dropped the price in half to about $15 so I hopped on it 
I got my 4-disc ROBERT KLEIN: THE HBO SPECIALS 1975-2005 today. I haven't seen "Child Of The 50's, Man Of The 80's" since 1984, and long remember it as one of the most side-splitting concerts ever
Amazon dropped the price in half to about $15 so I hopped on it 
Cushy/fluffy comfort slippers
Electric blue fashion pants
Salmon and spinach pasty
Cherry tomato, rocket, and mozzarella mini pizza
A salad of tuna, grilled green and red peppers, onions, and new potatoes, all drizzled with a mango and chilli dressing.
Electric blue fashion pants
Salmon and spinach pasty
Cherry tomato, rocket, and mozzarella mini pizza
A salad of tuna, grilled green and red peppers, onions, and new potatoes, all drizzled with a mango and chilli dressing.
This is pretty cool.
You have too much spare time.
Your nephew's Christ? And he still has to pay at the arcade?
- Status
