Centurion Payments

[albyd]

For further clarification, the apartment is currently under construction so this would be for the deposit only to the developer - assuming they accept Amex for a reasonable fee in the brave new post devaluation world. I understand, for completion, this wouldn't be an available method of settlement as suggested by @33kft's post.

 

[33kft]

I've never seen an agent accept a credit card for settlement or deposit.

Wasn't an issue at all for deposit, but then again I paid all fees associated with the payment of the deposit so that the agent had the exact amount agreed. You'd be surprised what an agent would do if it meant a sale, I got the distinct feeling he'd have driven the 700km to meet me if need be.

Several purchases ago, around 2008 I purchased 2 properties using deposits not even with my own money, but with "insurance bonds" paid by insurance companies to facilitate 100% finance purchases of property. All worked out fine in the end but in hindsight far too risky and I am glad that sort of thing has been phased out. These were usually interest only loans for the first 5 years too. I don't participate in such things anymore but I imagine even throughout this if I had mentioned the word credit card, it would have been a bridge too far.

My point is not the financial irresponsibility of all of this but the sort of fast and loose that gets played regularly in this space and even then, my first reaction upon hearing about paying for property via credit card was great doubt that any such scheme would be workable, even back in the "good old days".