| d21lewis said: No. They say it costs $100,000. If you have the money then and there, you have nothing more to worry about. If you don't, prepare to be raped by finance charges. I've beeen there time and again. I'm buying my home, bought more than a couple of cars, bought my own land, and even signed for my mom's house. Yeah, when you finally sign that contract, you finally see the total amount you'll end up paying but, when you look at the sale paper, deal with the real estate agent, or see that deal for the $19,000 car (plus tax, tag, and title) you get the deal you wish you were getting. The actual transaction is never that (at least where I live). I've been through it too many times. |
It's worth noting that, here in Australia, sales tax has to be included in the stated price. It also doesn't vary from state to state, like yours does. I'm not considering tax in this discussion, since it would apply irrespective of whether you're buying up front or not.
And no, they don't say it costs $100,000, they say that it has a $100,000 downpayment. Even if MS were advertising as "this has a $99 downpayment", I'd be fine with it. They don't - they say it's $99, and then put a little asterisk on it.
And I should be clear - I'm not saying that they tell you the final price you'll end up paying. I'm saying that they tell you, up front, the conditions - they tell you that it's a $100,000 downpayment. They tell you that you'll pay the rest of it off as a mortgage. They tell you how much the house costs in total - that is, the price you'd pay if you paid it all up front. The nuances of financing - choosing the length of your mortgage (and thus the repayment rate), etc - affects the final total, so they can't actually quote a "final price" before that step. But it's made quite clear that you're not getting the house for $100,000 - that it's only the downpayment.
EDIT: I should make clear, I'm taking the $100,000 as the downpayment, not the original total price. If you meant that to be the total house price if paid up front, then replace instances of $100,000 with, say, $20,000.
