Replying to Avatar xiangcai

real estate market in china-

location: 4th maybe18th tier city.

Q: what if I pay in full cash?

Agent: doesn't help with getting a good bargain.

Q: why?

A: sellers will get their money as quick as 3 days after buyer's mortgage applied, don't matter whichever way you pay with.

Q: I see, banks are having trouble selling loans.

A: and banks will let you wait for months to get a grant to pay off early.

Q: wtf?
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Keith 2y ago

Help me understand.

When someone gets a loan to buy a house they can stop making payments and the government will give them a grant to pay off the loan?

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xiangcai 2y ago

not what I meant. if you want to pay off your mortgage early, you'll have to wait to get a grant from the bank, that you are allowed to pay off the loan with your own cash.😂