Posted by Matt B on March 26, 2001 at 06:56:48:
This doesn’t look like much of a deal to simply assume the loan. Obviously, since the owner bought it in November, the mortgage is assumable with qualifying. What makes that so great? You still have to go through qualifying for the loan. There may be something I’m not seeing here or you’re not posting, but why does this look like a good deal to you? Is it that you can get the place with no money down? What is your exit plan? Are you going to rent the place out? With those numbers and area rents, that doesn’t even seem like that great a deal.