REAL-ESTATE players are warning consumers to be wary of attractive discounts and cash rebates offered by developers and agents during the Covid-19 pandemic.
Behind these offers are a mark-up of the property’s actual value by developers when declaring to the bank, they said, urging buyers to assess such offers carefully.
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I don't see how "cash out" strategies promoted by property gurus can work unless everyone in the supply chain is in on it, from developers to agents to banks to gurus to buyers...
I also don't understand why "loan compression", another strategy promoted by these gurus, can still work in this day and age... sure, buyers submit their applications at the same time, banks can't detect that during the approval stage, but just by imposing a conditional approval with a few days cooling period will uncover every single one of these loan applications, hard not to be suspicious whether it's a similar situation as the "cash out" strategy...
Perhaps TMI can do a story on this.
Posted 3 years ago by A Subscriber
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Comments
I also don't understand why "loan compression", another strategy promoted by these gurus, can still work in this day and age... sure, buyers submit their applications at the same time, banks can't detect that during the approval stage, but just by imposing a conditional approval with a few days cooling period will uncover every single one of these loan applications, hard not to be suspicious whether it's a similar situation as the "cash out" strategy...
Perhaps TMI can do a story on this.
Posted 3 years ago by A Subscriber