All Forum Posts by: Adeline Tai

@Scott Passman thanks for the reply. Would the same still hold true when someone have already have excess amount in cash that tHey are trying to finding ways to reinvest. Also unlikely to purchase another property for another year.  Cali tax rates is based on purchase price, I’m  assuming 2% increase in home value each year to bases taxes off of. How many years would it take to realize the 10k? Thanks!

Hi, First post here. :)

First time home buyer in California, seller is willing to credit back $10K on a million dollar sale price. What's the pros and con on price reduction vs. closing credit? I received a lot of mixed feedback. So far my understanding is this is based on weather I need cash right now or later? and how long I plan to hold the property for? Pros of price reduction is high price and taxes increase each year. Pro for closing credit is that you get the $10K now that you can invest elsewhere and likely get a higher return than the current mortgage rate and it'll takes years before capturing the $10K back. Not sure if someone can help me with the numbers as well, like what to take into account.

Sell price:990000 vs. Price reduction of 980000

property tax :1%

special assessment: TBD

rate 2.375%

30 years loan

20% down

Thanks!

Hi, First post here. :)

First time home buyer in California, seller is willing to credit back $10K on a million dollar sale price. What's the pros and con on price reduction vs. closing credit? I received a lot of mixed feedback. So far my understanding is this is based on weather I need cash right now or later? and how long I plan to hold the property for? Pros of price reduction is high price and taxes increase each year. Pro for closing credit is that you get the $10K now that you can invest elsewhere and likely get a higher return than the current mortgage rate and it'll takes years before capturing the $10K back. Not sure if someone can help me with the numbers as well, like what to take into account. 

Sell price:990000 vs. Price reduction of 980000

property tax :1%

special assessment: TBD

rate 2.375%

30 years loan

20% down

Thanks!

@Namit Raisurana curious to know who did you end up going with and how's the process coming along?

Hi guy, I’m new here and am curious to know what type of calculations are you guys using to determine if this is a good deal?

thanks!