“If Debt Ratios are Tight, it is a Good Idea to Check before You Look”
This client made the mistake a few years ago. He didn’t check with me to make sure that the numbers worked and they didn’t. Originally we were looking at a home where the property taxes were $4200, but the offer was not accepted. The second property the price was similar, but the property taxes were $7,900.
The property he wants to look at now is a condo and the fee is $503, as a result the debt ratio doesn’t work. He is at least checking with me in advance so that he is not wasting anyone’s time.
Hi Joe, I decided not to proceed with purchase of property at 57 town beach road, because it needed a lot of work. You did send me a letter for pre qualification for property, but need a new one. I am wondering if I can afford another listing at 110 Sandy Point Road, same town. Have not looked at it yet. Asking price is at $255,000, will I still be OK at this price? Taxes are $3,250 and HOA is $503 per month .I was not looking for condo's for a little while because had family and friends visiting for their vacation. I should of told you I decided not to proceed with other property, sorry.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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