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You purchased a house 5 years ago for $273,000 and you believe that house prices appreciated at 3% annually over that timeframe. The house was
You purchased a house 5 years ago for $273,000 and you believe that house prices appreciated at 3% annually over that timeframe. The house was financed with a 80% LTV mortgage with a 4% interest rate and a term of 30 years. You are going to sell the property and expect that selling costs will total 7%. Assuming that there are no tax implications associated with this transaction, how much will you receive from the transaction after the debt is satisfied?
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