Posted on: 22nd Nov, 2008 02:21 am
I am selling my home for 140,000. The pay off is 55,000. If I wrote a gift of equity in the amount of 29,000, does this come out of the total I would recieve in cash. Such as 140,000 minus 55,000, minus 29,000 and closing cost?
Hi byd!
The calculations that you have made here seems to be correct to me. You will have to deduct the gift of equity from the selling price that you will be receiving.
Thanks.
The calculations that you have made here seems to be correct to me. You will have to deduct the gift of equity from the selling price that you will be receiving.
Thanks.
they look correct to me as well; looks like a net of $56000 less the closing costs
