Question Details

J Yale, Home Seller in Grand Forks, ND

We are selling our house, but the special assessments are high. Do we need to lower our price?

Asked by J Yale, Grand Forks, ND Sun Feb 10, 2008

Unpaid specials $20K, $2600/year payments. Current appraised value = $213K Asking price $210K

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Answers

1
Special assesments do lower the value of properties in the minds of buyers. Often they will ask for the special assesments be paid off from the sellers proceeds at the closing so they will not have bills in addition to their mortgage etc. It also weighs against your property when compared to other properties of like type on the market that don't have a special assesment.
1 vote Thank Flag Link Sun Feb 10, 2008
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