Talk of The Villages Florida - View Single Post - Bond Issue
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Old 10-30-2019, 06:44 AM
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Challenger Challenger is offline
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Quote:
Originally Posted by twoplanekid View Post
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When I financed the purchase of our new house in TV in 2014, the appraisal value and the bank financing value did not include the existing bond on the house.
The bond does not add to the value. It is in fact a lien, superior even to a mortgage. The value is the value. My point is that If the appraised value is $100,000 and you contract at that price ,your total consideration with a $10,000 bond is $110,000. Any salesperson who does not clearly explain this is misleading the purchaser.

If house A is priced at $100,000 with a bond of $10,000 = total consideration(all in price)is $110,000. If no bond(bond has been paid), then any purchase price up to $109,999 is a better deal.
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Last edited by Challenger; 10-30-2019 at 06:50 AM.