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Nesgroup address: misc.consumers.house - Date & Time for the message: 30 Jun 2005 12:42:11 -0700
/ Author of the message: "Chip C" |
Title of the message: |
Re: Selling a house with 19 year option to repurchase
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Text of the message: |
a@b.com wrote: > I know an organization that sometimes sells houses that it no > longer wants. It sells each house with a 19 year option to > repurchase. That is, this organization can require the new > owner to sell the house back at any time in the next 19 > years. They may sell one or 2 houses a year. > > 1. Just curious, but how much would this option likely lower > the value of the house? I'm tempted to say, "to NIL", but the devil is in the details. > 2. Why would anyone buy a house under these conditions? It's > not like there are no other houses around. Perhaps the terms and conditions say that the repurchase would be at "current market rates", as determined by some agreed-upon formula (average value of similar houses etc). That would still suck for the average homeowner but might be attractive to landlords who just plan to rent it out, knowing that they might need to resell the place. |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.