Subtracting the loan from the market value
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blair
Apprentice
Joined: 30 Nov 2005
Posts: 1
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 Posted: 08/30/08 - 07:55 Post subject: |
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| I am thinking about selling my property in order to buy another one. I think that I have made quite a bit of money in extra value, if I look at adverts for properties in my neighbourhood and what they are now selling for. To work out the extra value, is all I have to do to subtract the loan from the market value? |
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sunny
Apprentice
Joined: 10 May 2005
Posts: 2
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| Posted: 09/14/08 - 04:55 Post subject: |
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| Do you mean as in - current market value of the property, minus total cost of the mortgage (principal and interest)? That would be accurate, on the whole. The only thing you would still have to do is to include the costs of the estate agents and the moving costs and so on. Oh, and the lawyers' fees. |
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starr
Apprentice
Joined: 18 May 2008
Posts: 1
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| Posted: 09/29/08 - 01:54 Post subject: |
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| Are you saying that you are actually going to make a profit on your house? I would be very curious indeed to hear where you live in that case! I didn't know that there were still places in the world that have not been hit so much by the financial crisis that the housing market has crashed. Can I move there? |
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