Quote:
Originally Posted by twoplanekid
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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.
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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.