Quote:
Originally Posted by dsnrbec
Several posters have said they recovered the cost of the bond payoff when they sold. My concern would be a potential buyer who was planning to get a mortgage which would trigger an appraisal. If a seller has done any significant improvements and paid off their bond, it would be hard for an appraiser to give them the value they need after looking at comparables. You might be ok if you’ve owned your home for a long time but if not, you will be disappointed.
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I paid full price on a 22 year old home, without dickering, because the bond had been paid and it had a brand new roof, HVAC system, and kitchen appliances. Those are major cash outlays I won’t need to lay out.