Jump to content
Find Professionals    Deals    Get Quotations   Portfolios
Sign in to follow this  
ysc3

Renovation Loan

Recommended Posts

is there a difference btw taking a reno bank loan and paying cash without loan ?

will it protect us in the renovator goes rouge ?

i mean previously i paid cash full for a used car and ended up being cheated by the car dealer when he took my $21k cash and did not transfer the car to me. (make police report also no use ... civil case they say)

anyway, back to reno; will taking bank loan ensure that we will not be cheated by the renovator ? when comes to work not done or relay .... etc?

 

Share this post


Link to post
Share on other sites
Looking for good contractors? Click here for your request

Hi, just to share a real life example of my friend.

He use bank loan to renovate his house, due to the renovator is his friend husband he straight away pay him the full sum of the loan amount.

But after few week of Reno, works seem like had slow down n come to a stop.

And the end the renovator run away without complete the job, and cause my friend in deep ****.

So even bank loan won't secure the Reno works to be done in order.

Always must divid the loan sum into 2 to 3 payment.

Hope this does help.

Cheers!!

is there a difference btw taking a reno bank loan and paying cash without loan ?

will it protect us in the renovator goes rouge ?

i mean previously i paid cash full for a used car and ended up being cheated by the car dealer when he took my $21k cash and did not transfer the car to me. (make police report also no use ... civil case they say)

anyway, back to reno; will taking bank loan ensure that we will not be cheated by the renovator ? when comes to work not done or relay .... etc?

 

Share this post


Link to post
Share on other sites

Hi, just to share a real life example of my friend.

He use bank loan to renovate his house, due to the renovator is his friend husband he straight away pay him the full sum of the loan amount.

But after few week of Reno, works seem like had slow down n come to a stop.

And the end the renovator run away without complete the job, and cause my friend in deep ****.

like someone mentioned in another thread ... do not use people you know or are linked to.

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

Aura Sink download renotalk renovation guide


×