Quote:
Originally Posted by Giesela
I have a hard time with math, percentages, financial things, taxes etc. Trying to education myself here.
I'm wondering about the ins and outs of negotiating price with an eye towards..."contingencies" or other costs that aren't actual price.
Like if you feel you have to offer full price or close to it, but are trying to get the best deal other ways. Like I don't understan how closing costs or points work.
negotiate for a carpet allowance (if needed) ?
What is this? (from an article)
Negotiate After Inspection
While it’s not uncommon for prospective buyers to believe the deal is sealed at the offer signing, in many cases the negotiations begin afterward. If you’ve conducted a home inspection, you can ask the sellers for a cash-back credit at the close of escrow, which can help you complete the project yourself. You can also ask the seller for a credit to fix certain issues in the interest of offsetting closing costs.
What are the sorts of things you have seen negotiated that were a good thing for buyers. And I don't understand why a seller wouldn't just come down in price vs. giving up closing costs - because there is a tax advantage? Or a loan advantage?
SECRETS TO REAL ESTATE NEGOTIATING FROM A TOP AGENT - Nekst - Nekst
https://www.realtor.com/advice/buy/b...that-backfire/ |
https://www.google.com/search?q=2000...hrome&ie=UTF-8
Familiarize yourself with how to do % on Google
amount (letter) x 6 or other number and % key.
6% is the highest for some loans so that's why I picked it, but it can be a flat rate too.
You would pay $200K for the house but you get $12K in closing costs instead of paying $188K for the house. So you loan is for $200K. Paying closing costs makes it easier on you to your pay down payment because you don't have to save up the extra $12k for closing costs.
Your real closing costs may not be that high, but you may be able to pay with prepaids such as tax or property insurance escrow with the difference or buy down points.
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