hOW TO BUY A HOUSE WITHOUT ANY DEPOSIT - Posted by Monica


#1

Posted by Jimbob on October 26, 1998 at 18:19:24:

Monica,

Make an offer to the seller that you’ll do cosmetic cleanup work on the house in exchange for the deposit or downpayment, i.e general cleaning, painting, landscaping, etc. Sometimes it works!


#2

hOW TO BUY A HOUSE WITHOUT ANY DEPOSIT - Posted by Monica

Posted by Monica on October 26, 1998 at 17:56:35:

I live in Australia, and I am on a single parent pension
I would like any ideas on how to buy a home without any deposit.


#3

Re: hOW TO BUY A HOUSE WITHOUT ANY DEPOSIT - Posted by Mr Donald (NORVA)

Posted by Mr Donald (NORVA) on October 26, 1998 at 18:37:38:

Simple. Don’t offer one :slight_smile:

Really, though…a deposit would probably be seen as an indication of one’s good faith in completing the transaction - hence the “earnest money deposit” as it is referred to in America.

Don’t know about Oz but a deposit isn’t necessary to bind a deal, just “consideration”.

So whatever the Seller is willing to accept should be good enough. Use some creativity and you’ll figure something out.