Grandpa Ward and high school grad, Chris.

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Re: 2nd Step

Posted by RegW on July 30, 2003 at 10:01 AM

In Reply to: 2nd Step posted by Ward-CA- on July 29, 2003 at 10:40 AM

Ward - Sorry to be so thick(I am new to this process),but,
how did you get to $122,418? I calculated $192,500,

est. sales price 325000
Less:
1st Loan 80000
back payments 3000
interim payments 10000
est. prop. taxes 2000
fix up/repairs 15000(amount is now 50000)
Buyer's costs 9750
Selling commission 9750
Trans. expenses 3000

Projected equity 192500

I am obviously forgetting something major.
Thanks for the help!!!!


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