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/u/Vegetable-Emotion328
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I have a potential client looking to sell his home in a higher end neighborhood. After running the numbers, the home would be worth around 750K, give or take. But, he has a VA assumable loan with a 2.75% rate. However, the loan balance is around 430 to 450K, somewhere around there. This guy wants to list the home at 900K. And, he only wants to give me 90 days to sell it. Keep in mind, this is in a neighborhood where there are a lot of homes for sale, and the homes are sitting on the market for a while. So basically, I am being asked to sell the most expensive home in the neighborhood per sqft, and I only have 90 days to sell it. I realize that a VA assumable buyer is going to have to pony up around 500K in cash to make this happen. I know there are plenty of people who have that kind of money, but is it realistic to think that we can get an extra 100 to 150K more for the home just because of the VA assumable loan? Or should I tell this guy thanks but no thanks and move on?
submitted by /u/Vegetable-Emotion328
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Should I take an overpriced listing because it has a VA assumable loan?
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submitted by /u/Vegetable-Emotion328
[link] [comments]
Should I take an overpriced listing because it has a VA assumable loan?
Continue reading...