i just found out about this saying, can i get some clarification please?
2006-11-09 01:00:58 · 6 answers · asked by one 1 in Business & Finance ➔ Renting & Real Estate
well when you walk into a property, if you take the cheese, it will trap you
2006-11-09 01:02:40 · answer #1 · answered by The brainteaser 5 · 0⤊ 1⤋
The property trap is when house investors/remodellers buy a house that they think is a bargain because it's run down, they try to do them up and they either spend too much money and go way over budget, or nobody wants to buy the house.
And that my friend, is the property trap.
2006-11-09 01:04:51 · answer #2 · answered by Anonymous · 0⤊ 1⤋
In short it's when the value of your property falls below the purchase price.
2006-11-09 01:08:07 · answer #3 · answered by skelomalso 3 · 2⤊ 1⤋
Negative Equity when your home is worth less than you paid for it.
2006-11-09 01:12:34 · answer #4 · answered by Ollie 7 · 1⤊ 0⤋
bigger than a fly trap
2006-11-09 01:33:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
it means you are stuck with were you are living and can not move to overcharging landlords and mortgage company's
2006-11-09 01:03:37 · answer #6 · answered by Anonymous · 0⤊ 1⤋