Sentences with phrase «original purchase price of a property»

Not exact matches

b) If the property was purchased less than one year preceding the application date, the LTV / CLTV (85 %) for the mortgage amount must be calculated using the lesser of the appraised value or the original sales price of the property.

The government can also purchase the property for 75 percent of the original price or payoff the mortgage.

The ACB isn't necessarily just the original purchase price — it may be that you have made capital improvements or renovations over the years that have increased the cost of the property for tax purposes.

To attempt to curtail this type of practice, the Law Society has held that real estate lawyers should know or «ought to have known» that these property flips were dishonest because of the sharp increase in the price of the property when it was resold, and the fact that the mortgage is significantly larger than the equity available in the original purchase.

Popp is negotiating with assessors to convince them that the original purchase price does not relate to the value of the property today.

Showed the property to clients last night, land registry shows it as a vast undeveloped tract of land, original purchase price not given, nor is an assessment.