rgawith wrote:I know a couple of agents that sell this way and do give title and keys on payment of instalment but with caveat that title is transferred back if buyer defaults, however all well and good until have to test this option.
If it was me, and you had no choice in the matter, then I would treat this like you would a Uk mortgage. The house stays 100% in your name until the final payment...No negociation. And. They have any default over 2 months and you keep the house. And at that point they lose everything they've paid. No keys until finished paying.
brianj42 wrote:booboo wrote:
Sound advice BUT I don't think UK mortgages work this way..lol
Kinda, but the mortgage company own the deeds of the house from day one until its fully paid. You get the deeds once you've paid it all. If you default the mortgage company get the house.
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