Quote:
Originally Posted by retiredguy123
That's true. But, many buyers are not "savvy". So, as a seller, if you have not paid off the bond, you can offer the house at a lower price and a non-savvy buyer will buy it. That is the advantage of keeping the bond.
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But speaking of savvy, is the seller savvy enough to want to offer their house at a
lower price to make up for the fact that they owe the bond? A lot of sellers see a house down the street offered at a certain price, and feel their house should be equally priced, irregardless of the bond. There lies the catch. I think some people have an inflated view of what their home is worth. Ultimately, the buyer needs to do some simple arithmetic, and I agree, some probably do not do so or are unable to make the best financial choice. Hopefully the real estate agent would help in that regard.