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Old 01-15-2018, 12:35 PM
 
2,628 posts, read 2,683,772 times
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Gimmie, gimmie, gimmie !
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Old 01-15-2018, 02:32 PM
 
Location: Great White North Hills
10,966 posts, read 13,537,973 times
Reputation: 8383
Why do you EXPECT the seller to pay your CCs?
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Old 01-15-2018, 03:52 PM
 
Location: Cary, NC
31,324 posts, read 54,831,857 times
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Quote:
Originally Posted by Copanut View Post
Why do you EXPECT the seller to pay your CCs?
Because he wants to finance them in the home loan.
Diana already offered instructions to make an offer that provides the seller an acceptable net with the CC credit, and the OP thanked her for that.

This is pretty easy, pretty common stuff in real estate.
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Old 01-15-2018, 03:58 PM
 
Location: Great White North Hills
10,966 posts, read 13,537,973 times
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I know it happens quite a bit, sometimes inflating the sales price and pressuring the appraiser to "hit" the number.
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Old 01-15-2018, 03:59 PM
 
Location: Cary, NC
31,324 posts, read 54,831,857 times
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Quote:
Originally Posted by Copanut View Post
I know it happens quite a bit, sometimes inflating the sales price and pressuring the appraiser to "hit" the number.
If the appraiser cannot make the numbers work, there is no deal without a renegotiation.
C'est la vie.
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Old 01-15-2018, 04:03 PM
 
Location: Austin
7,054 posts, read 16,741,899 times
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Quote:
Originally Posted by atlcharm View Post
We offered full purchase price and asked the seller to pay 3% of the purchase price ...
This means you did NOT offer full purchase price. You offered the seller 97% of their asking price.
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Old 01-15-2018, 04:08 PM
 
Location: Cary, NC
31,324 posts, read 54,831,857 times
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Quote:
Originally Posted by FalconheadWest View Post
This means you did NOT offer full purchase price. You offered the seller 97% of their asking price.
Yup!


https://www.youtube.com/watch?v=ZB52NEPJxUs
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Old 01-16-2018, 12:22 AM
 
387 posts, read 1,437,770 times
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Quote:
Originally Posted by FalconheadWest View Post
This means you did NOT offer full purchase price. You offered the seller 97% of their asking price.
I'm very clear on that, I just wanted to make clear on this post that we didn't ask for a price decrease AND closing costs. I wanted it clear that we weren't asking 97% PLUS. It was either or for me; ask below the selling price or ask for closing costs. I wasn't going to ask for both. Closing costs would have been most beneficial to my bottom line so I asked for that and offered full listing price, netting the seller 97%.

Last edited by atlcharm; 01-16-2018 at 12:35 AM..
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Old 01-16-2018, 12:25 AM
 
387 posts, read 1,437,770 times
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Quote:
Originally Posted by MikeJaquish View Post
When the "seller pays," if the seller is smart and negotiating for best net sales proceeds, you really are just financing your CC.

So, your offer price has to cover the seller's goal for net proceeds and your CC.
I.e., what Diana said, you often have to bump the price to make it work.

On the NACA tangent, how is NACA perceived in your community? Some people want little to do with NACA or NACA buyers.
I'm finding it is negatively perceived mainly due to how long NACA used to take to close. That's changing now, but it will take a while to change that perception. Supposedly, they close within 28 days now. We shall see.
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Old 01-16-2018, 12:29 AM
 
387 posts, read 1,437,770 times
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Quote:
Originally Posted by Chaofan View Post
Call it whatever you want. The fact remains that the buyer's interest rate is not the responsibility of the seller.


Perhaps a less expensive house would be a better choice.
I already knew that and it's also not the responsibility of them to pay closing cost for conventional buyers. The fact is though that the market usually bears it and they do even it's only 2 or 3%. It's all about net anyway, whether the amount is taking off the purchase price or it is given as proceeds in closing costs. Does the seller have to do so no. But if I were a seller I wouldn't care what my buyer was using it for as long as my net proceeds were the same.

It was never an affordability issue. Anyway, the seller and I worked out a deal. The same way that the seller was trying to get the best deal for them I was also trying to get the best deal for myself. it works both ways. I don't consider it a crime.

Last edited by atlcharm; 01-16-2018 at 12:40 AM..
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