Quote:
Originally Posted by jrref
I know there has been endless discussion concerning whether to pay off the Bond or not. But for example, if you have a $20,000 bond on a $700K house and you pay it off, when you go to sell it at some point i would think you could probably re-coupe the $20K because there is no bond to pay. At this price point you can easily add $20K to the price of the house assuming it will be one of the many selling points of the house. This assumes the $20K you are spending to pay off the bond isn't making much interest in the bank or whatever you may have it invested in these days.
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This topic has been discussed on many other threads. Assume you have a house for sale for $700K, with a $20,000 bond. You call your real estate agent and tell them to raise the asking price to $720K because you are going to pay off the bond. I can guarantee you that the agent will have a fit and strongly advise you to not pay off the bond. The house is easier to sell for $700K with the bond. Ask any experienced agent.