Have you ever taken over a property because someone couldn't pay?

[Adecyptii]

No I have never done that,but I think as a business owner, its not good to take back your goods just because the buyer was not been able to settle you, but rather make him your customer.

 

[Sotherefore]

No have never had this experience before.. generally I have decided to keep myself out from real estate business or anything because I don't really have money to start. real estate is a business that requires a lot of money.

 

[Adecyptii]

Yes, there was a time when we had an agreement with my neighbor, which we agreed that I will bought him a cycle over a period of time he will return the money with a little interest but he failed to do as we agreed so a took over my property from him.

OK but I don't think its suppose that you should take your property back since he can't pay you back on time since he's your neighbour, you would have given him another chance.

 

[Alexandoy]

When I bought the lot of my great uncle there was the understanding that I have to pay the installments in 2 years. There was a time that I couldn't pay the installment for 2 months. Fortunately the owner is a considerate relative that he said it is all right as long as I would pay when I can. Fortunately I was able to pay the arrears within the year. It would be very sad if the owner would repossess the lot in case I couldn't pay the installment.

 

[ganibade]

I have not taken properties from any body as a result of not paying. I have not dealing with instalmental payment customers that paying money gradually. I have my property to real estate agent to sell for me and collect money once.

 

[CeeJase]

Have you ever taken over payments on a property where the original owner couldn't afford to pay it off? Or maybe they tried, but failed and had to leave. Have you ever taken over a property because someone couldn't pay their rent or house payments?

This is actually something that I've seen happened on more than one occasion when our landlord have to evict some of the tenants as a result of them not being able to pay their rent.

 

[Shigobad2020]

Taking over a property when the buyer ain't able to have the opportunity to complete the payment is what many owners enjoys most , most especially when a car at higher purchase and you weren't able to complete the payment and the interest keeps increasing.

 

[Udah jnr]

No I haven't but have witnessed bank take over a property because the owner used it as a collateral and couldn't pay in time

 

[Shigobad2020]

Not I haven't before. But I actually hear this alot. Especially when the dept is huge, the lender will take hold of the debtors property and this at times iis due to the agreement reached earlier.

You are right , I have never done such because I normally have self pity (empathy ) for people m but i have seen car dealer taken back cars from people who that cannot pay up.

 

[greenie]

Well I haven't had such opportunity but I don't mind taking a chance if I find one.
I take over the property, make the payment and the use it to make my own money

 

[Kennysplash]

My dad used to buy bikes and then give it to riders in higher purchase. It is in the agreement that if they fail to bring daily payments the bike will be taken from them. I have witnessed that happen a few times.

 

[Sotherefore]

Never had experience of situation before but I always i always prfered to buy my property in which everything is in good condition, as long as the property is legit with all the necessary evidence I will buy it in rare circumstances

 

[Profwriter]

This is one of the ugly side of a business deal that went South. Personally I haven't done that even when the opportunity presented itself, I guess I'm too caring and emotional and that makes me not a good candidate to head finance institution that deals with loan disbursement or any form of service that requires a collateral from the client.

 

[Sincerem]

It is quite unfortunate to acquire a property and not been able to pay for it the property is taken back by the owners, I haven't done that before but I have heard or experienced several cases where this has occurred.

 

[Ononivami]

This has not happened to me before. I have never had the cause to overthrow someone because of their financial incapability. I think such things happens everywhere but I have not had the experience.

 

[Syldan]

I am a business person and most often I usually offer helped to people like those who are in need of financial assistance to carry out their own business and I offer with a collateral of which I will take your property if you failed to pay me back.
Yes, I have taken property from someone because he failed to pay mr back my money as it was agreed upon. I lend him some good amount of money to be paid after 3 month but the person failed so I token the property to replace my money.

 

[Sotherefore]

I have never done that before, I don't really have the needed money to engage in real estate investment or related business. Even if the person couldn't pay you are free to take over as long as you are able to pay as the demands required.

 

[Syldan]

In dealing with my business activities, there are several numbers of principles to which I always consider and adopt in other to avoid any form of misunderstanding between me and my customers.

 

[Bookwormlux]

No matter what, you have to make sure that what you intend to do is within the terms and conditions of the deal. This goes a long way In making sure that you ain't defaulting too.

 

[Sotherefore]

I have never done it before and besides I do not really have money to invest in any properties now because they are quite expensive. I rather invest in cryptocurrency with the little money I have now.