“If Debt Ratios are Tight, it is a Good Idea to Check before You Look”
This
client made the mistake a few years ago. He didn’t check with me to
make sure that the numbers worked and they didn’t. Originally we were
looking at a home where the property taxes were $4200, but the offer was
not accepted. The second property the price was similar, but the
property taxes were $7,900.
The
property he wants to look at now is a condo and the fee is $503, as a
result the debt ratio doesn’t work. He is at least checking with me in
advance so that he is not wasting anyone’s time.
Hi
Joe, I decided not to proceed with purchase of property at 57 town
beach road, because it needed a lot of work. You did send me a letter
for pre qualification for property, but need a new one. I am wondering
if I can afford another listing at 110 Sandy Point Road, same town. Have
not looked at it yet. Asking price is at $255,000, will I still be OK
at this price? Taxes are $3,250 and HOA is $503 per month .I was not
looking for condo's for a little while because had family and friends
visiting for their vacation. I should of told you I decided not to
proceed with other property, sorry.
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