So, who wants to lend me $279 000?

by NW » Mon Feb 21, 2011 12:27 pm

I have a keen desire to live in a more northern part of Canada and look what I found yesterday. Now all I need is for someone to lend me $279 000 or maybe just buy it for me as a present and I'll have one of the best houses ever!! I mean I would send them a thank you card, not even one of those cheap 99 cent ones, I'm talking about a card that costs at least $5! :wink:

Wouldn't it be great to wake up to this view every morning?

http://www.realtor.ca/PropertyDetails.a ... -312202789

by **Ambret** » Mon Feb 21, 2011 7:52 pm

Holy sh*T yeah! you'd like to wake up to that view or you're going to lend him the $279,000?

by NW » Mon Feb 21, 2011 8:32 pm

Well there's also this one... a bit more pricey and I'm not as taken by the view but it does come with a runway....

http://www.realtor.ca/PropertyDetails.a ... 1727476751

As for the proce of the first one I think that in alot of places the isolated homes actually increase the propertys value. Not practical but they mostly figure that someone from overseas will see it and buy it. Happens alot even here in Eastern Canada. Local people see a house away from jobs and therefore any income and they don't buy it. People from overseas see it as a get away and snatch it up.

by **Apex** » Mon Feb 21, 2011 9:49 pm

Pool our money together and get a SP cabin :wink:

by **lcarreau** » Mon Feb 21, 2011 10:59 pm

knoback wrote:So, I know real estate prices are more realistic in Canada, probably because Canadians in general aren't as dog shit stupid as Americans, but...

So, if everybody in America moved to Canada, then I'd finally have this place all to myself ???

by **fatdad** » Tue Feb 22, 2011 7:53 pm

Ok, do what this woman I read about in the NY Times did. She wanted to buy a little place in Italy, found an appropriate place, formed an LLP and then asked people to contribute a portion of the purchase price (c. 1/50th or something) in exchange for being able to use it for a couple of weeks within the year purchased. She actually found enough people willing to do so, which paid for the bulk of the purchase price. Think about it. Would you pay $2500 or something like that to be able to spend a couple weeks at a place like that? Seems like a steal.

by **drpw** » Tue Feb 22, 2011 10:20 pm

So essentially you'd be sharing your time in the vacation property? That is a novel concept.

by **fatdad** » Tue Feb 22, 2011 11:11 pm

Fletch wrote:I think a lot of courts in the US would look at 3rd party down payments as ownership stakes. Even an LLP wouldn't completely shield the buyer from some sort of claim by the string of 'renters' (should they want to)... and it would only get more complicated if there was debt on the transaction...

Absolutely not. The statute of frauds requires all agreements concerning ownership of real property to be in writing to be enforceable (at least in many states, and I suspect in Canada as well since the statute is a vestige of English common law, and those confused Canadians like to pretend that they're still kind of English). The participants would sign a document affirming that the money they're forwarding is only with respect to a two week use of the property and they're not claiming an ownership interest. Renters aren't able to claim an ownership interest in the property they're leasing, even when they're on an oral lease. Just doesn't happen.

Still, that's not to suggest that the situation I read about is common or all that straightforward. Still, it worked for that woman.

by **Tangeman** » Wed Feb 23, 2011 1:02 am

Is that in American dollars or Canadian dollars? I might if maybe the exchange rates flip around.
Looks nice!

by **lcarreau** » Wed Feb 23, 2011 2:47 am

Sorry, but I can't see why anybody would want to pay that much for a house; even if they planned to
live in it a quarter of the year. (Unless they were a Rock Star like Geddy Lee).

What are the winters like up there ??? I suppose they're remarkably different from AZ-winters.

Why not rent a shack in town, then on your days off you could still be within reach of mountains ???

by **lcarreau** » Wed Feb 23, 2011 3:03 am

knoback wrote:Oh, lighten up! There are way worse things than being stupid. In fact, it's one of our redeeming qualities.

The following user would like to thank lcarreau for this post
Josh Lewis

by NW » Thu Feb 24, 2011 12:29 pm

Winters in the Yukon are long, dark and full of suicides.... sounds charming huh? Right now the temp is -25 C (-13 F) there but hey, it's -19C (-2.2 F) here with 45cm (18 inches) of snow predicted in the next 24 hours. Yea it's in Canadian dollars. To live there (not just visit) you would have to go pretty much self sufficient I assume, like solar power, eating tree bark (lol), etc. But that would be kind of cool in it's own way... that way when the martians show up they don't find you......

by **lcarreau** » Thu Feb 24, 2011 5:25 pm

NW wrote: To live there (not just visit) you would have to go pretty much self sufficient I assume, like solar power, eating tree bark (lol), etc. But that would be kind of cool in it's own way... that way when the martians show up they don't find you......

Some of us would LOVE to shake hands (tentacles?) with a Martian.

Perhaps a Martian would loan out the $279,000. I heard it was just Chump Change to them ...

by NW » Thu Feb 24, 2011 8:52 pm

I just like the idea of living more northerly and the land's nice there imo. I like places that maybe your more "I hate winter" people would run away from. But I prefer to stay in Canada cause I also like healthcare lol. I would probably shy away from making deals with martians... who knows what they would want in return!!!

I had a funny idea run through my head about pooling for a SP cabin that involved a commercial like one of those charity ones for hungry children. You would just have to change the hungry children for climbers. There are climbers who go without a place to relax at everyday, just a dollar a day can help a climber like you see here find a place to stash his stinky climbing gear.... (and no I'm not making fun of the hungry children commercials, I do feel bad for them).

So, who wants to lend me $279 000?

So, who wants to lend me $279 000?

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