Seaside Horizon Ventures Seaside Horizon Ventures
Track record  /  Green Cove Springs, Florida

A waterfront exit that could not wait for a listing.

Structured a subject-to acquisition on a beautiful waterfront property, creating a win-win solution for the seller who needed a quick, hassle-free exit.

Green Cove Springs, Florida property
Green Cove Springs, Florida · Subject-to · $380,000 · Closed in 12 days
Transaction record
MarketGreen Cove Springs, Florida
StructureSubject-to
Transaction value$380,000
Days to close12
Agent commissionPaid in full at closing
Payments serviced byThird-party loan servicer
Acquisitions contact
Kristopher Kempe
Founder & Chief Executive Officer
How it closed

The situation

The sellers needed out on a timeline no listing could meet, with a low-rate loan worth keeping in place and equity a discounted cash offer would have eaten.

The structure

We took title subject to the existing loan. The sellers received their equity above the balance in cash at closing, and a third-party servicer took over every payment on record from day one.

The outcome

Closed in twelve days with no appraisal and no financing contingency. The sellers left on schedule with their equity intact.

The transaction, worked

Every number in this deal.

Nobody in our category publishes this. We would rather you checked our arithmetic than took our word for the outcome.

What we paid*
Contract price
$380,000
Existing loan balanceTaken subject to, at 3.25%
$341,200
Monthly payment assumedPrincipal, interest, taxes and insurance
$2,145
Cash to the sellers at closingTheir equity above the loan balance
$38,800
Days from contract to closing
12
What a conventional listing would have netted*
List priceAssuming it sold at asking
$380,000
Commissions at 5.5%
−$20,900
Seller closing costs at 1.5%
−$5,700
Inspection repair creditThe figure raised in their expired listing
−$8,000
Loan payoff
−$341,200
Net to the sellers, conventional routeBefore roughly seventy further days on market
$4,200
$34,600
Difference to the sellers
12 days
Instead of about eighty

* Provisional figures pending reconciliation to the settlement statement. The conventional comparison is an estimate on stated assumptions, not a quotation.

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