Quote:
Originally Posted by Dond1959
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.
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You are correct, if the buyer is emotional about the purchase. Plus, as you point out - It is a sellers market, so offers need to be thought out.
What I am saying is that buyers, when comparing homes for sale, they need to know the whole story about what they are buying. The bond can be a big part of that decision and they should not be blind to it.
Buyers should NOT rush into any purchase (and it should not be driven by emotion). This is a BIG DECISION. I looked for more than 18 months and made a good purchase, even in a sellers market.
Be sure, as a buyer, that one is making a good decision for YOU. There are LOTS of homes for sale. The right one will come around in time.