A house is selling for $150,000. A deposit of $20,000 was made when the sales contract was signed?
robinho1 asked:
The down payment is 30% and the balance will be financed with a 25-year mortgage at 11% and 4 discount points. If the sellers are responsible for the broker’s commission (6% of the purchase price); $1,300 in other closing costs; and the existing mortgage, with a balance of $40,000; what proceeds will they receive on the sale of the property?
Link to Blog: Valuations
The down payment is 30% and the balance will be financed with a 25-year mortgage at 11% and 4 discount points. If the sellers are responsible for the broker’s commission (6% of the purchase price); $1,300 in other closing costs; and the existing mortgage, with a balance of $40,000; what proceeds will they receive on the sale of the property?
Link to Blog: Valuations
June 29th, 2009 in
Renting & Real Estate | tags: Closing Costs, Existing Mortgage, House Selling, Price 1, Proceeds, Sales Contract, Year Mortgage