Property Q&A in Margate>Question Details

Dezonia.keyes, Other/Just Looking in Margate, FL

Is $139,900 the FINAL price for this two house? This does not include taxes, HOA fee, insurance, etc.

Asked by Dezonia.keyes, Margate, FL Sat Jul 30, 2011

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This is an unapproved short sale and it is still on the market. The HOA fees are $200.00 a year. The asking price of $139,900.00 does not include insurance or taxes. Insurance should be around $3,000.00 a year and taxes would be around $2,600.00 a year. This breaks down to around $466.66 a month for both. Then you have your monthly mortgage payment. If you put a 3.5% deposit down you would be financing $135,000.00. At 5.25% interest rate,your payment per month would be $386.54 Would you be interested in previewing the property?
Kim Smith
0 votes Thank Flag Link Sun Jul 31, 2011
Its sort of late, but I wanted to answer your question the best I could.

I work Central Florida, So I have NO incite into this property, but IN GENERAL,

Listing price is just that, just like a auctioneer saying - who will give me 139,990????

you Bid $ 100,000 . . .. he says " I have 100,000 who will give me 110,000?"

Its just a starting place.

Sometimes, however, it is final. This is on REO properties when banks have "BPO's" done to establish current market value, and tell listing agent, put this on the house, its what its worth.

Still, you a buyer are in charge of the offer. If bank thinks it's worth 139,900, you are free to offer what ever you feel its worth. If you can back your value with BPO's or appraisers, you might be able to move that price.

Looks like the county thinks in Jan 2010 it was worth $112,890 - at least here, a property would (most likely) be worth less in Aug 2011.

This is very tricky business - Suggest you find a good Realtor to help you through this - Buyer agent should cost you little to nothing to have them help you all the way to closing. If you need help finding one, I am from the area and know many fine agents is Broward county.


0 votes Thank Flag Link Sat Jul 30, 2011
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