Show Money Assigment.docx - REST 4306-011 Module 3 SHOW ME THE MONEY SCENARIO 1 TREC Form 20-13 Barry has some cash which he decides to use to buy

Show Money Assigment.docx - REST 4306-011 Module 3 SHOW ME...

This preview shows page 1 - 6 out of 19 pages.

REST 4306-011Module 3SHOW ME THE MONEYSCENARIO 1 TREC Form 20-13 Barry has some cash which he decides to use to buy rental property. He located a house which he can purchase for $89,500 and after having it inspected, decides to buy it and pay cash for it. Seller will pay no buyer’s expenses.89,500.000.00N/A0.00
Background image
REST 4306-011Module 3SCENARIO 2 TREC Form 20-13 and 40-7Jim and Heather want a bigger house for their family. They have a contract for sale of their current home and have made an offer on the home they wish to buy. They agree to pay $215,000 for the home and will pay $43,000 as a down payment from the sale of their current home. They have not qualified for a loan yet so they make the contract subject to qualifying for a loan with a maximum 5.5% interest and two points in finance charges for a 15 year loan. They believe loan approval will be completed within 20 days.43,000.00172,000.00215,000.0011,825.00N/AX
Background image
REST 4306-011Module 3XX15172,000.005.500N/A151.000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Background image
REST 4306-011Module 3X21N/AN/AJimHeatherSellerSeller
Background image
REST 4306-011Module 3SCENARIO 3 TREC Form 20-13 Jennie is a widow who is selling her home to move to a smaller house. She agrees to sell her current home to Victor and Cindy for $275,000. Victor and Cindy have been
Background image
Image of page 6

You've reached the end of your free preview.

Want to read all 19 pages?

  • Spring '19
  • Debt, Payment, Credit card

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes