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luvadealme

I heard a good one..

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Dear all,

Very anecdotal, but my sis in law is an estate agent in Hammersmith told me an interesting story at the weekend.

 

Young Chinese guy bought an off plan river flat for 1.4 mill, using 20% deposit. Now crapping himself as says he is unable to get the remainder owed out of China and hence wants to sell asap.... told there are no buyers looking. Will likely make a massive loss!

Cant be the only one. Bring on the crash...

 

 

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5 hours ago, luvadealme said:

Dear all,

Very anecdotal, but my sis in law is an estate agent in Hammersmith told me an interesting story at the weekend.

 

Young Chinese guy bought an off plan river flat for 1.4 mill, using 20% deposit. Now crapping himself as says he is unable to get the remainder owed out of China and hence wants to sell asap.... told there are no buyers looking. Will likely make a massive loss!

Cant be the only one. Bring on the crash...

 

 

love it love it love it! :):):)  So is he living in UK? Or doing all this over the phone/web from China?

My in laws mentioned they saw lots of rich chinese on the trains in that area... they were convinced they were buying all the million pound flats to live in ... I commented maybe they were all there to try and get their deposits back :):):)

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On 3/13/2017 at 11:07 PM, honkydonkey said:

If his loss looks to be greater than his deposit he'd do better to walk away. He'd never get pursued in Chinese courts.

Maybe. If there are enough defaulted contracts between Chinese people and London property developers it might be worth the London property developers hiring Chinese lawyers.

I doubt the Chinese government is particularly sympathetic to people trying to stash their wealth outside of China.

Edited by Dorkins

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On 3/13/2017 at 10:05 PM, Kiwi_Muncher said:

love it love it love it! :):):)  So is he living in UK? Or doing all this over the phone/web from China?

My in laws mentioned they saw lots of rich chinese on the trains in that area... they were convinced they were buying all the million pound flats to live in ... I commented maybe they were all there to try and get their deposits back :):):)

Buying a property in the UK does not give the right to residence. They cannot love in them full time.

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Just now, Gribble said:

Buying a property in the UK does not give the right to residence. They cannot love in them full time.

Ha I mean "live"!!!

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