Hello Everyone.
Say I have an IP that I want to sell. Unfortunately, instead of profit, I will incur a loss. Questions:
Never been on this situation before.
Appreciate all your inputs.
Thanks.
Say I have an IP that I want to sell. Unfortunately, instead of profit, I will incur a loss. Questions:
- The current tenants are contracted for several months. By selling the property, what will be the implications on my side?
- Say the loan of the IP is $300K. If the selling price is $260K, for example, there is a shortfall of $40K. Will the bank ask me to pay it as a lump sum? Will the LMI help in any case in this scenario?
Never been on this situation before.
Appreciate all your inputs.
Thanks.