September 11th, 2006
W 10250 N, Highland UT [sold]
6656 W 10250 N, Highland, UT 84003
7br / 2ba / 2car, 4700+ sf, 3/4 acre lot, built 1979
[Map] [Zillow]
[Photos 1] [Photos 2]
Value
Appraised AS-IS for 350,000 in February 06. After Repairs Value 400-500k or more depending on improvements.
Loans
1st: 288,000 @ 9.0% = 2,160/mo
30yr fixed. Interest-only first 4 years til 2009, then Principal + Interest
2nd: 72,000 @ 13.625% = 831.78/mo
ARM: Principal+Interest. Due in 15 yrs (2021)
Total: 360,000 owed; 2,992/mo PI payment
Taxes and Insurance
Paid separately (will provide soon)
Reinstatement amount
To bring loan current as of September 11, 2006
1st 4,320.00; 2nd 1,663.56; Total: 5,983.00
Next payment due: October 1st
Description: Lots of potential. Vacant but livable as is. Major updating and improvements inside and out needed to get ARV. Exclusive area. All brand new 700k to million dallar homes going up on the same street. Still a hot market.
Status: Listed on the MLS at $400k. Take over payments or get new financing with or without shortsale. If I bring my own buyer the realtors are willing to cancel the listing for 8K. They have spend their own money on doing some repairs and staging. I don’t want any money from this deal - just pay off my loan or takeover.
UPDATE: Property sold and closed on September 13th, 2006. Full story: Utah Property Staged and Wrapped!