Quote:
Originally Posted by Papa_lecki
I would have her look now. She will find a desperate seller with all the inventory and get a great price.
Don’t worry about interest rates, she can refinance.
|
If you pay $500,000 for a home but it is only worth $450,000 or less when you refinance, you are in a hole. A bank will not refinance a home for more than it is worth.
We are searching for that great deal you mentioned. Hard to find. It seems if you can find an inherited home, you can get a great deal. Some just want to unload it no matter the price. Unfortunately, the homes we found are in need of costly repairs and updates.