~official~ buying a property thread

[trini_ravi]

hey fellow tuners i'm interested in purchasing my first property.

checked it out today, an apartment complex to be exact, going into my bank tom to discuss the possibility of securing a loan.

so any fellow tuners wanna share there experience and walk me through the process... what to look out for, what to avoid... leaving guidelines for future tuners to follow... hence the official designation of the thread...

thanks in advance
Ravi

[acesinghit]

screw the bank, their rates are too high try TTMF

[Chimera]

*yes tuners, post here and join the "Potential Kidnap Victims List"*

[trini_ravi]

^^^ stupes buss out with uh dotishness... if u have nutten to contribute delete uh post and buss out....

[AYE_SOLDIER]

screw the bank, their rates are too high try TTMF

x2!

[brams112]

one word mamoo title search,then there is the health inspection,price and location,real value towards an apartment or a house,don't rush the brush on final decision,you might see something better,,,,,,,,

[trini_ravi]

thanks brams... how do i do a title search...

working on getting a valuator

[Chimera]

see if the "owner" actually owns the property, or if he selling someone else place


bout a month ago in couva, a person bought the house next to him, paid cash to the man of the house, the man of the house skipped the country

1 week later, the wife (actual owner) came back to trinidad and kicked out the buyer.

now hes out a few hundred grand because he thought he was getting a good deal. and not a single thing he can do about it

[brams112]

you have to get an up to date deed and go to a lawyer or you can call land searches> 3668917,i saw this number in the classifieds in the express some time ago,they said a land deed and a fee of 1800 dollars to do the search when i called,a lawyer will charge in the thousands,a savings at the end though,no one will kick you out,,good luck,but apartments are only for running racket a house maybe more comfortable pallie

[trini_ravi]

thanks brams... but i not going to live there... i'm comfortable where i am...

it's an investment...

[bluesteel29]

ah have ah 4bdr,3bath,2kitchen,2living room house in haleland park, maraval to sell....gimme 3.2 an iz urs

[crazybalhead]

Ravi, do a search, myself and others have contributed a lot to this topic already.

[SmokeyGTi]

go by TTMF or one of the banks and pick up one of their home mortgage brochures.
in there is a list of everything you need to do and all important documentation you will need.

a lot of people told me that you get through faster through the bank than with TTMF, but bank rates are higher.

[Computerman]

..... goes to buy lotto ticket.

[WTF]

what are the rates at TTMF, most of the banks now are 7.99%?

[foss]

what are the rates at TTMF, most of the banks now are 7.99%?

WTF

[qd32]

ravi,

when I bought my house I went to TTMF.
They handled everything for me including the title search.

As a heads up.... A popular 'blue' bank was charging me $12,0000 for closing legal fees, TTMF through their lawyers charged $1500.

The real headache comes from the search if they can't find a clear title to the property.

My mortgage is literally a half of what the bank charged me....

[De Dragon]

what are the rates at TTMF, most of the banks now are 7.99%?

WTF

Doh get wax eh! That is only the add on rate. Actual interest is like 18%

[trini_ravi]

what are the rates at TTMF, most of the banks now are 7.99%?

WTF

Doh get wax eh! That is only the add on rate. Actual interest is like 18%

care to explain dragon?

I'm collecting the deed, letter of intent and up to date utilities today, I'll keep you guys update as it progresses.

[nes123]

trini_ravi,not only that but I inquired at RBL about the same @ 7.99% but its for a 10yr loan...the chart I was shown by a rep indicated that the lowest interest rate is only attainable once ya borrowing for 10yrs max