ysc3 0 Report post Posted February 7, 2013 is there a difference btw taking a reno bank loan and paying cash without loan ?will it protect us in the renovator goes rouge ?i mean previously i paid cash full for a used car and ended up being cheated by the car dealer when he took my $21k cash and did not transfer the car to me. (make police report also no use ... civil case they say)anyway, back to reno; will taking bank loan ensure that we will not be cheated by the renovator ? when comes to work not done or relay .... etc？ Share this post Link to post Share on other sites
jadens28 1 Report post Posted February 8, 2013 Hi, just to share a real life example of my friend.He use bank loan to renovate his house, due to the renovator is his friend husband he straight away pay him the full sum of the loan amount. But after few week of Reno, works seem like had slow down n come to a stop.And the end the renovator run away without complete the job, and cause my friend in deep ****.So even bank loan won't secure the Reno works to be done in order.Always must divid the loan sum into 2 to 3 payment.Hope this does help.Cheers!!is there a difference btw taking a reno bank loan and paying cash without loan ?will it protect us in the renovator goes rouge ?i mean previously i paid cash full for a used car and ended up being cheated by the car dealer when he took my $21k cash and did not transfer the car to me. (make police report also no use ... civil case they say)anyway, back to reno; will taking bank loan ensure that we will not be cheated by the renovator ? when comes to work not done or relay .... etc？ Share this post Link to post Share on other sites
ysc3 0 Report post Posted February 9, 2013 Hi, just to share a real life example of my friend.He use bank loan to renovate his house, due to the renovator is his friend husband he straight away pay him the full sum of the loan amount. But after few week of Reno, works seem like had slow down n come to a stop.And the end the renovator run away without complete the job, and cause my friend in deep ****.like someone mentioned in another thread ... do not use people you know or are linked to. Share this post Link to post Share on other sites
Dorawang 0 Report post Posted February 12, 2013 Easy to control the workers when not using someone you know. Share this post Link to post Share on other sites
