Quote:
Originally Posted by Laker14
Russ,
do you have your heart set on a brand new unit? Some friends of mine recently bought brand new, and they were showing me the closing sheet.
Add the bond, and the various fees that come along with buying brand new, and while the "sale price" was 240g, by the time they were done the actual cost was more like 280.
BTW, that IS a nice house.
Dan L
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Unless the bond is paid off the unpaid balance will be included in the closing statement on a pr-owned sale. The amount will depend on the original amount and number of payments. The original amount will be much less on an older home and more payments will have been paid.
A critical question when buying a pre-owned home: "What is the balance of the bond?"
Some homeowners have elected to pay off the bond. There is an opportunity to do this once a year.