Tax, L/O, Sub2, Creative Fin. PRO's, What Would U Do?
I am selling my Md. OO after living here for over 2 yrs (250K tax free).
FMV: 390K
1st = Assumable cofi ARM 96K, 4.5%, 850. mo includes 250 escrow, 270 principle reduction
2nd = HELOC Prime 71K interest only payment is 250. mo
5/3 Would rent for 1800. mo easily but it is high maintenance. = tired!
Excellent County along I95 between DC/Balto = Appreciation tops.
Question is: What would you do to reap the best benefit? [ Edited by ceinvests on Date 10/27/2004 ]
LC/CFD would allow you to reap the most benefit (if you can get rid of your Buyer easily in your State). Second choice (or sometimes first, depending upon the State) would be L/O. Never sub2 as a savvy Seller (but that would be the most ideal as a Buyer).
[addsig]
Thanks Lease-
Could you elaborate on any specifics?
Would you do 1 or 2 years?
What type of numbers would you look at to construct the deal?
~C
I only L/O for one year with a T/B. Get higher than market rent and a higher sales price (tomorrow's price). Shoot for at least 3 percent in nonrefundable option consideration (that percentage based upon the future value).
[addsig]