$25,000 down payment at closing to cover arrearages and
assignment fee. Buyer is purchasing property subject to existing debt of +/
$92,000 at 2.99% with an additional non-interest bearing deferred balance of
$13,184. Monthly PITI (Subject to change) is currently $1,203.
Buyer is taking the property subject to the existing mortgage, deferred balance and a MV realty lien which is approximately 3 to 6% of the purchase price (this lien may not be enforceable but is currently in place currently.