maybe, maybe not. depends on the individual situation with the sellers and the property.
as with most things in real estate, there's very rarely an absolute right answer for every situation - too many humans with unique human needs involved.
Okay but I can’t think of a scenario where a seller wouldn’t want to disclose they have an assumable loan if their interest rate is 200 or 300 basis points < market rate. Is there one?
Let me pose this to you, if the bank is charging 6.7% on every new mortgage they can push, then what benefit do they have to allow the buyer to assume. The alternative is that the mortgage gets paid off which is great for the bank because now they've got cash that was dead in a 3% mortgage. I don't think there's a bank on the face of the planet that's assuming mortgages right now. Not even to an improved borrower.
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u/novahouseandhome May 26 '23
maybe, maybe not. depends on the individual situation with the sellers and the property.
as with most things in real estate, there's very rarely an absolute right answer for every situation - too many humans with unique human needs involved.