Posted by BIGDADDY(MD) on July 02, 2002 at 16:38:36:
I agree with Phil.
You should also explain to him the cost that he is going to encounter when he sells and especially if he sells via a realtor.
On a $199K sale price at 7% commision (common for my neck of the woods) your looking at a realtor commision of $13930.00 plus his portion of customary Closing cost of approximately 2% to 3%(another $3980 to $5970).
Not to mention all of the payments that he is going to have to make while this process is taking place. I would say at best another two months worth (assuming an almost immediate sale the day he places it on the market) and more than likely probably another 3 to 4 months worth of payments and association Fee’s. I hope this info. helps you. Good Luck.