03-07-2008, 11:04 AM
I understand what you are saying YurtGirl and as I've said many times, yurts have a place and valuable one, for people that make that decision after being made fully aware of both sides.
But when asked about a specific negative, you did avoid the question. That's immaterial at this point. Its clear that yurts cannot be financed for either construction or purchase (again -- unless you can help me find a lender that will and I'd love to know of one).
aprild -- there's nothing wrong with sellers offering to finance a new owners purchase and you are right, they usually can get a better return than they would in a bank. It depends on the person's situation if that's an option for them. For many people that might consider a yurt, the purchase of the land and construction of the yurt might consume the majority of their available money. Then, situations change for whatever reason and they need to get their money back. They may not be in a position to offer to finance the property. With a property that would be eligible for conventional financing, they have more options for selling. With a yurt, their options are more limited. Again, its another case where someone should have all the information before making a decision on what to build or buy.
And although I appreciate the link, Damon, its not my mission to harass YurtGirl and make her life difficult. As I've said a number of times, I just want people (including myself) to be informed about the options and implications of those options. That's all.
If I were YurtGirl's attorney though, I'd advise her that all customers should be made to sign something clearly disclosing that conventional financing is not an option for these building either for construction costs or eventual resale. Otherwise, some customer that was not informed about both the positives and negatives of yurt-building could really cause her problems. And she seems like a genuinely nice person and I would hate for that to happen.
There's a reason why, in the real estate business, we have the axiom "when in doubt, OVER-disclose". Its better to tell someone way more than they wanted to know and document that they were told these things than to have one of them claim "but they never told me THAT." I mean, after all, we still have to disclose there's volcanoes on this island and that should be obvious to everyone, right?
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
quote:
My aim is to accentuate the many positives, pose possible solutions that I have witnessed people succeed with in the past when faced with the negatives
But when asked about a specific negative, you did avoid the question. That's immaterial at this point. Its clear that yurts cannot be financed for either construction or purchase (again -- unless you can help me find a lender that will and I'd love to know of one).
aprild -- there's nothing wrong with sellers offering to finance a new owners purchase and you are right, they usually can get a better return than they would in a bank. It depends on the person's situation if that's an option for them. For many people that might consider a yurt, the purchase of the land and construction of the yurt might consume the majority of their available money. Then, situations change for whatever reason and they need to get their money back. They may not be in a position to offer to finance the property. With a property that would be eligible for conventional financing, they have more options for selling. With a yurt, their options are more limited. Again, its another case where someone should have all the information before making a decision on what to build or buy.
And although I appreciate the link, Damon, its not my mission to harass YurtGirl and make her life difficult. As I've said a number of times, I just want people (including myself) to be informed about the options and implications of those options. That's all.
If I were YurtGirl's attorney though, I'd advise her that all customers should be made to sign something clearly disclosing that conventional financing is not an option for these building either for construction costs or eventual resale. Otherwise, some customer that was not informed about both the positives and negatives of yurt-building could really cause her problems. And she seems like a genuinely nice person and I would hate for that to happen.
There's a reason why, in the real estate business, we have the axiom "when in doubt, OVER-disclose". Its better to tell someone way more than they wanted to know and document that they were told these things than to have one of them claim "but they never told me THAT." I mean, after all, we still have to disclose there's volcanoes on this island and that should be obvious to everyone, right?
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
John Dirgo, R, PB, EcoBroker, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
http://www.bigislandvacationrentals.com
http://www.maui-vacation-rentals.com
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
http://www.bigislandvacationrentals.com
http://www.maui-vacation-rentals.com