Property Description:

3 bed, 2 bath, 1,680 Sq. Ft. Doublewide built in 2017 on 1.17 acres. No that’s not a typo, it’s only 2 years old. Level property with two streams. House is in great shape. Gravel drive in. On septic and well. 15-20 minute drive to downtown Asheville. This property is zoned Open Use (OU). Due to perc reasons, septic is only rated for 2 bedrooms. Seller is willing to sell SUBJECT-TO the existing mortgage which has a balance of approximately $105,500, and Principle, Interest (fixed 4.2% rate), Taxes, & Insurance (PITI) payments of $730.64/month. Seller is granted a 30 day lease-back of property after closing to allow them time to move. $5,000 to be held back at closing and then provided to seller once they have vacated the property by 1/13/2019 Estimated Rent: $1,100-$1,200/month Estimated ARV: $180,000-$195,000 Asking Price: $160,000 Funds Needed to Purchase: $54,500 Anticipated Closing Timeframe: 12/12/2019 Pictures & Related Info: crepros-my.sharepoint.com/:f:/g/personal/alan_carolinarealestatepros_com/En--OJ415DJPotnizpbU350BDrSvLGKcWnul5sHgqjFL5Q?e=6izDuY Property is currently occupied, please be respectful if performing a drive by. Call/text/email for access or for any additional questions. Cheers! Alan Windham Carolina Real Estate Pros, LLC P.O. Box 645 Hendersonville, NC 28793 Mobile: 828-551-6949 Office: 828-351-7235 *** FOR THOSE NOT AS FAMILIAR WITH SUBJECT-TO DEALS *** When you buy a property subject-to it means title transfers into your name, but that the mortgage remains in the sellers name & you simply make the monthly mortgage payments on behalf of the previous owner/seller. This allows you to bring less to the table initially and the loan does not show up on your credit report, thus not increasing your personal debt to credit ratio. In this particular case, if the property was purchased for $160,000, since there’s an existing mortgage in place of approximately $105,500. That means you would only be responsible for bringing $54,500 to the closing table to purchase the property. And since it’s practically a new property the main systems of the house would not need to be replaced for a long time.