a) Realtors fees approx. 6% of sale price
b) Closing costs
c) Refreshing property for sale
d) Moving expenses
e) Difference in mortgage payments current vs. $500K
Purchase of new home:
a) Tax write off contact our CPA
Recommend place all on excel spread sheet with all financial dollars determine what is your best interest.
You are typically going to retain more of the new equity when you do the rehab yourself. Most buyers want to have a home that is finsihed because they will get their mortgage based on the sales price but might find it difficult to afford renovations after the purchase. Whether you are spending your own money or the banks money, you will probably see that you make out better when you do the remodel yourself.
If you have any questions, please feel free to contact me.
Apply Online: flagstarloans.com/lallison