Maximum Seller Financing Contributions

March 9th, 2015

It is important to know how much a seller, or any interested party (i.e. a realtor, builder, or seller) can contribute to a buyer’s closing costs. Many people get confused as to what is allowed, and some realtors write up a sales contract with dollar amounts that are not allowed per mortgage guidelines, which will cause problems with the loan. Below are the current maximum seller financing contributions allowed: Read the rest of this entry »

Bookmark and Share

Getting A Seller Credit In Lieu Of Repairs

November 12th, 2012

Getting A Seller Credit In Lieu Of Repairs

It is very common for a buyer and seller to negotiate a seller credit in lieu of repairs after a buyer does a home inspection. Most sellers do not want to bother with doing a small amount of repairs, and some may not have the money until after they go to settlement, so they negotiate a credit and offer to pay some money at settlement for these repairs. The problem comes when Read the rest of this entry »

Bookmark and Share

Watch Out For The Asterisk.

March 16th, 2011

If you are negotiating with a builder to buy a new construction home and are being offered an incentive to use the builder’s preferred lender or title company, watch out for the asterisk! Or sometimes if you are being asked to consider using an “affiliated service provider” by a Realtor, just remember, you can always say “no thank you.” Read the rest of this entry »

Bookmark and Share