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Shipping arrival - Page 4


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  #31 (permalink)  
Old 20th June 2019, 09:12 PM
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Originally Posted by hogrider View Post
32ft sailboat. On a low loader. Had to have a police escort through California due to the oversize land. That cost extra of course. Yes I searched around for several quotes.
You got an excellent deal on that. You were barely charged the operating cost of the rig.(Roughly $US 1 per km or $1.50 or so per mile.) My guess is that it was a back haul where the rig would have gone back empty otherwise. (Truckers will take a load somewhere and charge the original customer the return empty trip then try to pick up a back haul through a broker for some extra cash if they can get it.)

Was the truck available right away or did you have a wait to get the truck? If you had to wait then it definitely was a back haul, if not then it still could be one and you got lucky.

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  #32 (permalink)  
Old 21st June 2019, 08:07 AM
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You got an excellent deal on that. You were barely charged the operating cost of the rig.(Roughly $US 1 per km or $1.50 or so per mile.) My guess is that it was a back haul where the rig would have gone back empty otherwise. (Truckers will take a load somewhere and charge the original customer the return empty trip then try to pick up a back haul through a broker for some extra cash if they can get it.)

Was the truck available right away or did you have a wait to get the truck? If you had to wait then it definitely was a back haul, if not then it still could be one and you got lucky.
The trucking company tried to get out of the deal. I showed them the quote, to which they replied that the particular guy no longer worked for them. Not my problem, you have given me a quote. Eventually they agreed and kept to the deal. Documentation cost me an additional $2,000.

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  #33 (permalink)  
Old 23rd June 2019, 12:23 AM
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Unfortunately Fred it's a million plus dollar property and unfortunately I can't walk away, requires maintenance and then some....... Renting? Forget it. Need to be on the ground to keep up appearances and besides I will go back to work and rake in some bucks to pay for the proverbial over priced fence/not.

Cheers, Steve.
Actually the reverse mortgage program is pre-selling the property. You collect your selling price(less any fees) and continue to occupy the property until you either die or decide to leave. Either way, once you are no longer there and they are notified, it is no longer your responsibility for maintenance or otherwise. Hence the ability to "just walk away".

Don't know if any such type of program is available in other countries than the US.

Fred

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  #34 (permalink)  
Old 23rd June 2019, 04:44 AM
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Originally Posted by fmartin_gila View Post
Actually the reverse mortgage program is pre-selling the property. You collect your selling price(less any fees) and continue to occupy the property until you either die or decide to leave. Either way, once you are no longer there and they are notified, it is no longer your responsibility for maintenance or otherwise. Hence the ability to "just walk away".

Don't know if any such type of program is available in other countries than the US.

Fred
Seems to me that Reverse Mortgages work a bit differently in Oz.

A "Reverse mortgage” or “lifetime loan” allows you to borrow against the equity or asset value in your property for any purpose.

It does not require any repayments on the life of the loan but you can make voluntary repayments if you wish to do this.

The loan does not have to be repaid until you choose to sell your home or the last surviving borrower passes away.

The Title of your home will stay in your name.

One thing good about the reverse mortgage, especially at the moment while house prices in Oz are falling, is that the Government has introduced statutory 'negative equity protection' on all new reverse mortgage contracts. This means you cannot end up owing the lender more than your home is worth (the market value or equity).
When the house is eventually sold, then any excess to your debt will go to you or your estate, but you cannot be held liable for any debt in excess of this.

From: https://www.moneysmart.gov.au/supera...erse-mortgages

An ASIC review of reverse mortgage lending in Australia found that borrowers can struggle to recognise the long-term risks of their loan.

By taking out a reverse mortgage, you could face financial difficulty later in life, because:
  • interest rates and ongoing fees are generally higher than the average home loan
  • your debt will increase as interest rates rise on your loan
  • the effect of compound interest means your debt can increase quickly as the interest compounds over the term of the loan
  • if the value of your home does not rise, or it falls in value, you will have less money for your future needs, like aged care or medical treatment
  • the loan may affect your pension eligibility
  • if you have a fixed interest rate loan then the costs to break your agreement can be very high.
  • Also keep in mind that if you are the sole owner of the property and someone lives with you, that person may not be able to stay when you move out or die (in some circumstances)
.


Last edited by Tiz; 23rd June 2019 at 04:52 AM.
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  #35 (permalink)  
Old 23rd June 2019, 05:23 AM
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In the UK my understanding is that you basically sell your house to a company and carry on living there but the value can be significantly less than the market value.

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  #36 (permalink)  
Old 23rd June 2019, 09:52 AM
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My OP with regards to "Shipping arrival" has turned into "how much per mile" "what distance travelled, how big was it and ends up with reverse mortgages and next will be interest only commitments and how I profited on a pig sale. Perhaps great info for a new topic or relevant to other topics; should be started/contributed in a new topic or one that is relevant, sorry to be anal but staying on track or contributing/starting a new thread may perhaps put new life/interest here for those that wish to contribute within a designated topic but should stay on track.

Slap me as I'm still learning but if info does not pertain to the thread posted and a member wishes to contribute on a similar vane or askew then a new thread needs to be opened/started with relevances, references or alike to a previous topic. (this is similar) or as we say in Thailand "same same but different"

Cheers, Steve.
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