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Price & Terms

7910 Buccaneer Drive

Fort Myers Beach, Florida

Owner Sale/Financing Information

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Sales Price                            $574,000.00 

Term                                          30 years

Interest Rate                                   7.50%

Downpayment                         $74,000.00

Financed amount                  $500,000.00

Monthly P&I Payment                $3,496.00

 

 

Mortgage Information

  • The sellers will not require or charge the buyers a MIP (mortgage insurance premium) on the mortgage note.  A huge savings!

  • There will not be any pay-off penalty on the mortgage note.  The buyer can pay off the loan at any time between the inception date and the 5-year anniversary date with no penalty.

  • There will be a 5-year ballon payment on the mortgage note.  The mortgage will be amortized over a 30-year term; however, the loan will be required to be paid off by the 5-year anniversary of the inception date of the note. Generally, the day that we close the transaction.

  • Real Estate taxes will be contractually obligated to be paid by the buyer, the new owner, by the earliest discount period available – generally in November of each year.

  • We will require that all parties to the contract/mortgage personally guarantee the mortgage note.

  • Our attorney and closing team in Naples, FL will facilitate the formal closing.

Mortgage Related Fees

  • There will be no appraisal fee charged – zero expense to the buyer.

  • There will be no underwriting fee charged – zero expense to the buyer.

  • There will be no loan origination fee charged – zero expense to the buyer.

  • There will be no application fee charged – zero expense to the buyer.

  • There will be no home/lot inspection fee charged – zero expense to the buyer.

  • There will be no survey fee charged – zero expense to the buyer.

  • There will be no mortgage brokerage or procuration fee charged – zero expense to the buyer.​

 

Additional Comments

  • Sellers will pay for real estate taxes up to the day of closing. 

  • Sellers will pay for the Florida real estate state/tax stamp expense.

  • Sellers will pay for the customary seller’s side closing fees to the closing agent.

  • Sellers will pay for all seller’s side recording(s) of closing documents at the Lee County Courthouse.

  • Sellers will pay for a Title Insurance Policy insuring free, clear, and unencumbered title to the new buyer(s).

  • Buyer will pay for the customary buyer’s side of the closing fees and recording fees to the closing agent.  A pro forma expense document (estimate) of the buyer’s closing fees can be provided.

 

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