negotiating a 5% downpayment

• usually new condo developments want about 20% downpayment within the first 6 months even though the property is 18 to 2 years away from being finished. Is it common to offer 5% instead?

  09 Mar 2006, 10:56 Anonymous

Replies

• it is an issue of supply and demand

  depending on how popular the new condo units are, surely the builder will want to have 20% down (cashflow), but if within a reasonable period, buyers are slow to come in, they will lower their expectations and "accept" negotiations.
  
  It may be tricky, because in the wait, you may not get the unit of your "dreams"

  Anonymous 10 Mar 2006, 11:11 - Report

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  Anonymous 14 Mar 2006, 03:01 - Report