No Money Down // Open House
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No Money Down // Open House

By Patrick following x   2017 Oct 8, 3:27pm 672 views   4 comments   watch   sfw   quote     share    

First time I've ever seen this...

Not only is it an 'Open House', but they also advertise 'No Money Down' right on the sign for it...

So, they are hoping someone is influenced into looking to buy a new home (on a whim, because they see an open house sign), and is especially swayed because it will not cost them anything to get into it

It is a good thing there's no bubble down here

P.S. Location: along Alicia Parkway in Laguna Hills

with permission from reader Tom R.

1   anonymous   ignore (null)   2017 Oct 29, 4:55pm   ↑ like (0)   ↓ dislike (0)     quote      

No down payment is required to see the open house.
2   RC2006   ignore (0)   2017 Oct 29, 8:25pm   ↑ like (0)   ↓ dislike (0)     quote      

Maybe no money down on garage sale after closing.
3   anonymous   ignore (null)   2017 Oct 29, 8:52pm   ↑ like (0)   ↓ dislike (0)     quote      

Honestly, the gov is doing like 3% or something. Might as well be zero. These programs all have restrictions. House is nowhere near $1M and above.
4   Sniper   ignore (10)   2017 Oct 29, 9:40pm   ↑ like (0)   ↓ dislike (0)     quote      

How can the realtor claim no money down? They don't set the credit criteria, the lender does.

Is it a game (like a 3% down FHA) and the seller is kicking back at closing that 3% amount after inflating the price?