How much down payment do you have to make?

[Nomad]

In my home country, when you are buying property through a bank loan you will have to make around 30 percent downpayment. If the property you are buying is priced at $300,000, you need to pay at least $90,000 as a down payment and the remaining 70 percent or $210,000 will be financed by the bank or mortgage company.

 

[Henrywrites]

Making a down payment of 30% to 50% is not bad as long as there is an understanding of how the rest of the money will be paid. I wouldn't want to buy a property where the seller will renege on an agreement before I finish making payments because I have no time for some dramas at all.

 

[Nomad]

Making a down payment of 30% to 50% is not bad as long as there is an understanding of how the rest of the money will be paid. I wouldn't want to buy a property where the seller will renege on an agreement before I finish making payments because I have no time for some dramas at all.

Down payment is mostly applied when you are buying the property through a property developer or through a bank loan. However, when you are buying from individual property owners., you are expewcted to pay ful;l in order to get the ownership transferred to you.