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in a way yes. you should sell your home for the market value which is what the home is worth this includes what you paid as a down payment since it lowered the amount that you financed. the only thing that you lose is any closing costs that you must pay plus commissions. you get to keep the difference between what the home is worth and what you still owe.
What else can I help you with?
Can you deduct interest from a personal loan taken for a down payment on a home?
You cannot borrow money for a down payment on a house, the only exception is if the loan is secured against an asset, like 401 k, borrowing against a vehicle that's paid for, from relative or friends When the bank loans money for a house, they've calculated that you won't be able to pay back your loan if you take on more debt, and borrowing the down payment is additional debt. If payments aren't made and they have to repossess the house to sell, often it sells for less than it's worth. So they can sell quickly, and a down payment prevents them from having a loss.
How can I find the necessary down payment for a car purchase?
To find the necessary down payment for a car purchase, you can save money from your income, sell items you no longer need, or consider borrowing from a family member or friend. Additionally, you can explore options like taking on a part-time job or cutting back on expenses to save up for the down payment.
Do real estate agents gett paid weekly?
They get paid when they sell a house. Their schedule of payment depends on how many houses they sell.
What can you do if you made a down payment on a car but after a week the dealer told you there was a lien on the car and could he be getting a better deal and what are your options?
I believe you can get your down-payment back if you do not have the car. But, if the dealer is doing that to sell the car after you have made a downpayment (depending on what the contract/receipt states) then you mave have legal options against the dealer. Some lawyers have free consults. I would contact a lawyer for free consultation before getting my down-payment back because the dealer may have breached a prior agreement/contract, whether verbally or written. State laws may differ.
Can the equity be used as a down payment?
Equity can only be used as a down payment in limited cases. Close relatives are able to "gift" equity in a purchase, thus eliminating the need for the buyer to bring cash. E.g. A Mother can sell her son a house worth $100k for $80k buy having a purchase price of $100k with a gift of equity of $20K. This in effect is a down payment. Without doing this it would essentially lower the market value of the house to $80K. The appraised value or market value of a house is its purchase price. The argument is that if it was worth anymore it would have sold for that price. So in most cases there can't be equity in the house when purchased because its value is what you paid for it. A second example of where equity can be used to "purchase" a house is with a Land Contract. Technically the house is purchased at the signing of the land contract, however no loan is put in the name of the buyer. After a year or more if the house appraises for more than the agreed land contract price. When the buyer takes out a loan on the property. The "equity" in the property belongs to him and in effect is his down payment.
Can you deduct interest from a personal loan taken for a down payment on a home?
You cannot borrow money for a down payment on a house, the only exception is if the loan is secured against an asset, like 401 k, borrowing against a vehicle that's paid for, from relative or friends When the bank loans money for a house, they've calculated that you won't be able to pay back your loan if you take on more debt, and borrowing the down payment is additional debt. If payments aren't made and they have to repossess the house to sell, often it sells for less than it's worth. So they can sell quickly, and a down payment prevents them from having a loss.
If you are trying to sell a car and someone gives you a down payment then backs out are you obligated to give the down payment back?
I wouldn't think that you would be but I don't know what the law is. Do you have anything in writing?
How can I find the necessary down payment for a car purchase?
To find the necessary down payment for a car purchase, you can save money from your income, sell items you no longer need, or consider borrowing from a family member or friend. Additionally, you can explore options like taking on a part-time job or cutting back on expenses to save up for the down payment.
Do real estate agents gett paid weekly?
They get paid when they sell a house. Their schedule of payment depends on how many houses they sell.
If you sign a promissory note for a down payment on a car and they do not sell you the car is the note still valid?
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
What options do I have if I can't afford my car payment anymore?
sell it, give it back or get another job
If you put a down payment but did not pick up the car can you get out of the deal?
If a down payment is put down on a vehicle and it is never picked up, it is possible to get out of the deal. However, the down payment will probably stay with the seller. The seller has the right to sell the vehicle again if it is not picked up in the agreed upon amount of time.
What are the release dates for Designed to Sell - 2004 Toning Down the House 3-6?
Designed to Sell - 2004 Toning Down the House 3-6 was released on: USA: 2006
Can you buy a house in YoVille and sale it back?
you can't sell it back this feature is not available. once you get a house you're stuck with it
If you sell a car on a verbal contract and no payment follows can i take back the car?
If you have a spare set of keys.
Are you entitled to your deposit back no paper work has been signed?
Where I live a deposit is a payment to hold the vehicle.Please note I said paymentSo no, if you put down a deposit, you are paying us to not sell the car for a period of time.This payment is credited against your purchase but not refundable if decide not to buy.
Can the same relative sell real estate and give the gift down payment?
as long as it is disclosed on the purchase contract.
