Hong Kong property prices falling?

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  1. #21

    Join Date
    Feb 2008
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    186
    Quote Originally Posted by hktraveller:
    It is usually a good idea to think before acting. That lack was your friend's friend's luck.
    In HK you first sign this contract with the seller (which involves a deposit), and then you shop around for a mortgage. Banks don't want to make a firm offer before you sign the contract with the seller, and might also change their mind after making you an offer. At least this is what happens with village houses. I know because I got REALLY P#$&($ED OFF when banks kept making "conditional offers" to me, and then backed off for some misterious reason, and decided not to lend me the money after all.

  2. #22

    Join Date
    Aug 2007
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    504

    that happened to someone we know during the 1997 crisis. They got an offer for 23 million . the buyer paid them 4 million advance and their deal was that seller would stay another 1 year before the buyer would pay the balance. 1997 crisis happened the prices went down and the buyer didnt have the funds so the seller got a cool 4 million for nothing and they renovated the entire flat


  3. #23

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    Feb 2008
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    186

    If I had 23 millions I would spend my life lying on a beach in some beautiful country, with lots of booze and babes.


  4. #24

    Join Date
    Jun 2004
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    HK
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    14,624
    Quote Originally Posted by pinko:
    If I had 23 millions I would spend my life lying on a beach in some beautiful country, with lots of booze and babes.
    be patient, since your investment strategy is bullet proof and since you outperform Warren Buffet, you should very fast seat on a lot more than 23 mio.....

  5. #25

    Join Date
    Feb 2008
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    186
    Quote Originally Posted by Mat:
    be patient, since your investment strategy is bullet proof and since you outperform Warren Buffet, you should very fast seat on a lot more than 23 mio.....
    What do I do with all that booze and babes when I am 80?

    Oh yes, viagra...