FundRobot » Trust Funds » CONFUSED!! Help hand that was offered by a family member never arrives?

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Old   #1 (permalink)
 
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Default confused help hand that was offered by a family member never arrives

After I moved to NYC from Boston, I wanted to buy a place in NYC and I was saving for this purpose. So, when I was talking to my sister and brother in law about it, my brother in law said we can lend you this amount etc a few times like 3 years ago but I just ignored it and this kind of conversation happened in between us all the time when the subject came to this point. This year, since I trusted this sincere help hand, I just wanted to check on that with them and the answer was positive and I got induced and started searching the housing market and made a regular schedule on my weekends and sometimes weekdays to see places. However, you have to have the 10% of the value in cash so you can at least put an offer on it. I told him this fact and he said ok and I will just lend the money. I keep looking in the meantime but when something I like comes up, I ask him when he can provide the loan to me, the communication gets cut off. He does not say something negative but he does not give a specific time to lend. This happened twice and I decided not to ask again and I decided to move on. However, our last communication happened a few days ago and I did not even touch the subject and he asked me how the search is going on my end. I said I am seeing places but I won't be able to do more than looking since he did not provide the loan yet and I won't be able to move forward without him sending the money. So, again there is no communication, nothing, no bad answer but simply no answer. Of course, at this point I get confused. Their financial situation is really good. I wasn't counting on that at all but since he insistently offered me help hand, finally I made a decision and proceeded. It is not possible that he could have forgotten because even though I do not open the subject, now he asks how the search is going... So, what kind of behavior is this? What would you think about this?

TodayIBUY is offline   Reply With Quote
Old   #2 (permalink)
 
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Default confused help hand that was offered by a family member never arrives

The next time he brings it up, say you have stopped looking because you don't have the funds to put in an offer. If by some chance he brings up the loan, tell him you want to borrow the money now so when you go back to looking, you are ready to put in an immediate offer. And ask what kind of loan agreement he wants to have prepared.

Make sure he understands the search has to stop until you have the money, because you need to be able to make an immediate offer. Then you'll find out if he is really serious about making the loan.

I have a feeling he's not going to come through for you.
PC_4Ever is offline   Reply With Quote
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