Thank you to "Michael F." for today's F@cked Buyer. As Michael pointed out, the buyer purchased this home using 100% financing with an absolutely brutal 2/28 ARM with 10.4% interest. This means that this buyer's monthly PITI + HOA is around $5,200. Over $5,000 a month for a 2-bedroom townhouse in Palm Beach Gardens? What was this buyer thinking?
2479 San Pietro Cir, Palm Beach Gardens, FL 33410
- 2 Bed, 3 Bath Townhouse
- Bought in May 2006 for $455,000
- On the MLS for $349,900
- Days on the Market: 95
- Loss before the Realtor® commission: $105,100
- Loss after the Realtor® commission: $126,094
I need your help with this daily feature. Do you know of a F@cked Buyer? Just add the MLS number or the FSBO link in the comments section and I will add it to an this daily update in the future.
Stumble It!
2 comments:
You're soon going to find lots of failed flips in that Harbour Oaks subdivision.
Palm Beach Gardens is a great place for the investor. It just wasn't for the Novice Investor which obviously this was
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