Quote:
Originally Posted by Tom C
I have ALWAYS SAID that the bond amount should be ADDED to the asking price. That is the ONLY WAY to compare apples to apples when looking.
When we purchased a home, the bond was 100% paid off. As a prudent buyer, ALWAYS DISCOUNT THE OFFER by at least the amount of the bond (then additionally whatever you feel is prudent to make the offer remain attractive to the seller).
Be an educated buyer or be a sorry buyer - your choice.
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Say I am a seller and selling my home for $300k with a $20k bond. You come in and offer $280k, in the current market your offer would be rejected without a counter offer. Prices on real estate are supply and demand. Right now the sellers rule and bonds are part of most home purchases. As a buyer you can request to see only homes with no bonds, but that could limit location and home type.
The most reasonable advice I have seen on bonds is to not pay them off right away in case you decide to move. If you pay it off and then move you will never get the bond value back in the sales price.