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First, when sufficient market data does not exist to allow extraction of an adjustment for favorable assumable financing by direct market comparison, how does an appraiser calculate a satisfactory mathematical adjustment?
875 million, 10-year assumable mortgage at an interest rate of 5.
This offering includes an assumable first mortgage and possible seller financing, resulting in a higher than usual 'going-in' return.
This first mortgage is also assumable and the Lender required no reserves.