Quote:
Originally Posted by Bay Kid
Can't write off any interest is what makes this bad money for me.
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it's a minor point, but maybe a good one, that perhaps most buyers would rather see that bond debt wrapped up in the mortgage. Generally a better rate, longer term and the interest would be deductible if itemized.
All of that, would in my estimation, make it more attractive to a buyer to have had the bond paid, and hence, increase the value of the home. They might not care coming into the process, but a little nudge from a realtor could maybe help the buyer see the value in that.
My realtor, who generally did a bang up great job representing and advising me, as a buyer, tried to tell me that the presence of a bond did not affect the price of the home. We had a discussion very similar to the one on this thread, back and forth, and he left the conversation understanding that it definitely would affect MY price. Money is money, whether you call it a bond or something else.
I got the impression that he threw that out there, and maybe it sticks for some people. It probably does. But it makes no sense.