Assuming an Existing Loan

[John Thao]

Need help in clarifying when you would assume the loan of the seller and what that entails.

Scenario:

8.5M home with NOI 516k but has A debt of 1.7M left at 4.3% interest and 8 years remaining. B debt of 1.6M at 3.43% interest and 8 years left.

Would this mean that there are approximately 6M in equity and would the buyers price be the 6M in order to assume the loan?

Need help.