Property worth to you with the seller financing

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You have the opportunity to purchase a property that will generate $10,000 a month. The purchase price is 1 million and the sale price is $1.2 million. The seller offers you 10 year $600,000 mortgage with payments of $6,364 a month and no balloon payment at the end. The bank would provide you the same size mortgage but the payments to the bank would equal $7,929.04. How much more is the property worth to you with the seller financing?

Reference no: EM131817761

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