Closing Costs and Financing Incentives
There may be times when, as part of your offer, you request the seller to pay all or a portion of your closing costs, or provide some other financial incentive. One common request is asking the seller to provide funds to temporarily buy down your interest rate for the first year or two. Such incentives can be especially effective if a buyer is tight on money or pushing their qualifying ratios to the limit.
Whenever you ask for incentives such as these, you will probably find the seller less willing to negotiate on price. After all, what you are really asking for is have the seller to give you some money to help you buy their house. The end result is that, for a little relief in the beginning, you are willing to pay a little more in the long run.
Next Seller Financing
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| Benefits of Owning Your Own Home |
|---|
| Important Things To Avoid Before Buying a Home |
| Don't Buy a Car - or Did You Already Buy One? |
| The Business Cycle and Buying a Home |
| Comparable Sales and Your Offer Price |
| Major Factors Influencing your Offer Price |
| Offering to Purchase Real Estate- the Basics |
| Writing an Offer - Safeguards Regarding the Property |
| How Financing Details Affect Your Offer |
| How FHA and VA Financing Affects Your Offer |
| Selecting Service Providers |
