Buy the house with an Amex?

[Smart86]

Many years ago, I heard what I thought was an urban myth about someone who used their Amex to purchase a property. Apparently, they lined everything up with Amex and the banks first (which sounds like a wise thing to to).

However, my question is whether it is possible to purchase a property with an Amex (Platinium) and, if it is possible, how is it done?
Thanks! max

 

[moa999]

If you have a Charge then possible.

But you will be paying a substantial premium.

People have done bigger things
http://www.businessinsider.com/how-to-fly-free-forever-put-170-million-on-your-amex-2015-11

 

[HTG2016]

If you have a Charge then possible.

But you will be paying a substantial premium.

People have done bigger things
How to fly free forever: Put $170 million on your AmEx - Business Insider

Interesting article

 

[jb747]

Not in the same league by many orders of magnitude, but i'm going to put the deposit for my next car on the Amex.

 

[Bilton]

Not in the same league by many orders of magnitude, but i'm going to put the deposit for my next car on the Amex.

I did that too. The maximum deposit the dealer would take on Amex was $5000, but 7500 QFF points is certainly better than none!

 

[Ansett]

A few years back I used my CC to pay the deposit on a new build and then all of the progress payments. I was quoted a fixed price by the builder and before I signed the contract I negotiated with out any fees that he would take my credit card for payments. Total payment was in the region of $420K.

I also spoke with the bank and organised with them, that was the hardest part..... So yes it is or was possible.

 

[Atleastonce]

I am just about to build a house and looking at the best card to get to allow me to do the progress payments and get the points. By allow I mean get unlimited points accrual in a 12 month period.

 

[marki]

Not in the same league by many orders of magnitude, but i'm going to put the deposit for my next car on the Amex.

I did without issues in fact was encouraged by the car dealership

 

[snabbu]

Not in the same league by many orders of magnitude, but i'm going to put the deposit for my next car on the Amex.

I've also just done that and am now negotiating paying the balance with Amex.

 

[get me outta here]

I put my last car across 3 cc and had made it clear that although I like to support local vendors, I'd be going elsewhere if that was an issue for them. Stipulated after the price was agreed of course.

Not in the same league by many orders of magnitude, but i'm going to put the deposit for my next car on the Amex.

 

[marki]

I've also just done that and am now negotiating paying the balance with Amex.

Did that too! Successfully I just rang the Amex people let them know what I was doing and that I had cover for it!

Lots of flying....... but I had to pay the surcharge unfortunately but hey worth it.

 

[robtemt]

I also spoke with the bank and organised with them, that was the hardest part..... So yes it is or was possible.

Just to clarify, you were still taking out a loan from the bank, but negotiated/arranged for them to settle with Amex as opposed to the seller/developer or was this without finance?

 

[Ansett]

Just to clarify, you were still taking out a loan from the bank, but negotiated/arranged for them to settle with Amex as opposed to the seller/developer or was this without finance?

Was financed through the bank I paid by card and submitted the invoice and payment to the bank who released the money to me for payment to credit card.

 

[Happy Dude]

I paid $40k (of $60k) of a new car in daily $5k chunks using AmEx because the dealer had a 3% surcharge on amounts above $5k. It was kinda fun. Would have been more fun if they had local champion.