Talk of The Villages Florida - View Single Post - "No Bond" is promoted in home sales. But what's the real savings?
Thread: "No Bond" is promoted in home sales. But what's the real savings?
View Single Post
 
Old 11-27-2023, 04:08 PM
Daddymac's Avatar
Daddymac Daddymac is offline
Senior Member
Join Date: Jul 2016
Location: Long Island NY
Posts: 432
Thanks: 128
Thanked 111 Times in 60 Posts
Smile
Quote:
Originally Posted by frayedends View Post
That's true so if the buyer is paying cash it's definitely a benefit to have it paid. But if they pay cash and pay off the bond too I still think it's a wash. If you have 2 models exact same model and lot in the same location and one is 400K with no bond and the other has a 25K bond they probably will be listing for 375K.

That's really just my opinion but I'm sure people take into account bond value when setting a list price.
The home with the 375k and 25k bond would cost more in the long run. The 25k bond can not be written off. The 400k would be included in the mortgage payment…. Now you can write it off .