Does this sound reasonable to you?
Q.
My aunt bought a house for $280k with an investment home loan
and promised she would sell the house to us in two years for the
amount she bought it for. Now she says the cost to buy the house
from her is $300k due to 'unforeseen' fees. Does this sound
reasonable to you? How is the extra $20k justified?
A.
You will have to decide whether $300,000 is a fair value for the
property but bear in mind she would have been liable for well over
$15,000 in stamp duty and legal costs and would have also spent
money on rates and insurance. When you take these into account an
extra $20000 does not seem unreasonable.
Each week financial advisor Noel Whittaker answers your
questions.
