So I’m trying to help my buyer with a property he is looking to purchase and the property that is for sale is $13.9M, the seller says that the buyer must assume loan as there is Defeasance prepayment until 7/1/2021
Maturity is 7/1/2023 ; 1% pre-pay from July 2021 until Maturity.
Balance @12,31/2019 was $7,088,890
Interest rate @4.31%"
My buyer is looking to buy the property with a new loan where the loan doesn’t mature for like 4-5 years.