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if the loan balance is 10000 dollars whats the total price of the property

I like to know how much the total cost is if I buy a foreclosure with 10.000 dollars loan balance if I pay the property cash (no finance required)
Wed Apr 30 2008, 09:44 - Lancaster - Home Buying - 2 answers
 
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Bart Landu...
Home Buyer
in Belgium
Bart Landu..., Home Buyer in Belgium in Belgium
Answers (2)
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Andy Caron was FIRST TO ANSWER
Hi Bart,

It would depend on what the foreclosed upon amount is not the loan balance. There is probably accrued interest and possibly there are other loans attached to the property. You would need to resesarch this further and if you are planning on going to the courthouse to try to buy it. You also need to know if there are any other liens attached to the property.

Good Luck!

Jodie

Wed Apr 30 2008, 21:21
 
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FIRST ANSWER
Loan balance has little to do with the value of a property in the current market. Property values are influenced by the the number and pricing of competing comparable properties, inventory in the price and size category and the price similar properites have garnered recently

Wed Apr 30 2008, 09:50
 
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