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Old 06-09-2018, 12:56 PM
 
98 posts, read 40,973 times
Reputation: 248

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We asked for closing costs.

We put down only 3% with the help of a grant.

We asked to speed up the inspection window by 12 days and the closing by 9, and are now happily installed in our new home. Sellers ended up netting 6% higher than list price and we bought our first house. It was a win all around.

Makes me sad to see so many people wouldn’t have given us a chance!
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Old 06-09-2018, 01:09 PM
 
9,366 posts, read 7,378,217 times
Reputation: 22965
Help me understand. If I'm the buyer and I've been preapproved by a legitimate lender, why are you in my personal business as far as down payment, etc? When we close, you'll get your money.

What am I missing?
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Old 06-09-2018, 01:21 PM
 
Location: Denver CO
19,139 posts, read 10,181,308 times
Reputation: 28035
Quote:
Originally Posted by charlygal View Post
Help me understand. If I'm the buyer and I've been preapproved by a legitimate lender, why are you in my personal business as far as down payment, etc? When we close, you'll get your money.

What am I missing?
try reading the thread, several people including me have explained.
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Old 06-09-2018, 02:53 PM
 
Location: Cary, NC
31,716 posts, read 55,574,517 times
Reputation: 30290
Quote:
Originally Posted by emotiioo View Post
You are brave enough to put all of your information out there. But man, some of these opinions are a real turn off to a seller who doesn't think in lock step with you. Hopefully you realize that.

Maybe instead of trying to guilt a seller into taking a zero down offer out of guilt or some sense of do-right smugness you could actually listen to their feedback and help them navigate a sale with a buyer they feel comfortable with.
Well, I predict that one of us has read the thread. And, I would not accuse you of being that person.
I don't try to guilt sellers. This is an online forum. I am merely pointing out the usual BS, and as usual, emanating from people who work in anonymity so they don't have to "own" their BS.

There has been a LOT of it shoveled out in this thread by people appearing to possess minimal practical knowledge and experience with 100% funding or real estate transactions.

A buyer "can't afford a home" because they take a 100% LTV loan? And it is a moral imperative to prevent them from owning?
They just cannot be serious. Many millions of successful homeowners have succeeded with 100% LTV purchases.
Clearly, just another thread where reasonable people are being played for sport.
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Old 06-09-2018, 04:15 PM
 
1,781 posts, read 891,771 times
Reputation: 3813
Quote:
Originally Posted by MikeJaquish View Post
Well, I predict that one of us has read the thread. And, I would not accuse you of being that person.
I don't try to guilt sellers. This is an online forum. I am merely pointing out the usual BS, and as usual, emanating from people who work in anonymity so they don't have to "own" their BS.

There has been a LOT of it shoveled out in this thread by people appearing to possess minimal practical knowledge and experience with 100% funding or real estate transactions.

A buyer "can't afford a home" because they take a 100% LTV loan? And it is a moral imperative to prevent them from owning?
They just cannot be serious. Many millions of successful homeowners have succeeded with 100% LTV purchases.
Clearly, just another thread where reasonable people are being played for sport.
Im glad you are not in any market I have bought or sold in. Best of luck to you.
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Old 06-09-2018, 04:51 PM
 
Location: Knoxville, TN
897 posts, read 480,358 times
Reputation: 1242
Quote:
Originally Posted by desperatedogadvice View Post
My husband says that he views people who don't put down a substantial down payment (and earnest money) as "not serious." He has pretty strong opinions as he flipped houses in college and after to help finance post grad education and was burned by a buyer who had a 0% down loan. He blames the lack of skin in the game for some of what happened in that situation (as well as the 2008 financial crisis.)

A loan is a loan is a loan to me as long as we get paid. But when we have had multiple offers the no money down goes to the bottom of the pile.
?

I don't really understand the OP. What do you care how the buyer "buys"? A sold house is a sold house, once the offer is accepted they're bound by contract.

I get that obviously a cash offer is preferable, so just pick that if you always have good luck with RE as you say.

I still don't get why you care how a buyer pays. A sold house is a sold house. Obviously financing falls through etc. etc. so yes a cash offer is preferable but it seems that your husband wants to turn down a buyer just because they aren't paying the way he likes?

No offense but that is very odd.
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Old 06-09-2018, 05:01 PM
 
Location: Cary, NC
31,716 posts, read 55,574,517 times
Reputation: 30290
Quote:
Originally Posted by AJT123 View Post
?

I don't really understand the OP. What do you care how the buyer "buys"? A sold house is a sold house, once the offer is accepted they're bound by contract.

I get that obviously a cash offer is preferable, so just pick that if you always have good luck with RE as you say.

I still don't get why you care how a buyer pays. A sold house is a sold house. Obviously financing falls through etc. etc. so yes a cash offer is preferable but it seems that your husband wants to turn down a buyer just because they aren't paying the way he likes?

No offense but that is very odd.

Read through the thread.
You'll see a lot of FUD and superstition that exists in the real estate markets and supports the OP's concern.
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Old 06-09-2018, 05:09 PM
 
Location: Knoxville, TN
897 posts, read 480,358 times
Reputation: 1242
Quote:
Originally Posted by MikeJaquish View Post
Read through the thread.
You'll see a lot of FUD and superstition that exists in the real estate markets and supports the OP's concern.
Yeah, already did lol. We've never sold so I guess I don't know. And when we did buy the sellers were desperate, been divorced a year the house was about to foreclose. We lucked out in every way possible. It's worth $60,000 more than we paid for it, a year later.

Didn't mean to jump the gun.
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Old 06-09-2018, 05:36 PM
 
1,781 posts, read 891,771 times
Reputation: 3813
I think it is worth noting that the buyer has the agency and some would say responsibility to agree to a wise transaction. I have never been someone who wants to take advantage of people who might be drunk on the American dream of home ownership. Think of me as a benevolent seller unswayed by a real estate commission. I wanted an easy transaction with someone who can afford my property. Apparently I should feel badly and take advantage of buyers who can barely afford the house.
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Old 06-09-2018, 06:45 PM
 
9,366 posts, read 7,378,217 times
Reputation: 22965
Quote:
Originally Posted by emotiioo View Post
I think it is worth noting that the buyer has the agency and some would say responsibility to agree to a wise transaction. I have never been someone who wants to take advantage of people who might be drunk on the American dream of home ownership. Think of me as a benevolent seller unswayed by a real estate commission. I wanted an easy transaction with someone who can afford my property. Apparently I should feel badly and take advantage of buyers who can barely afford the house.
What business is it of yours whether the buyer can afford your home? The lender agreed to lend them the money. As seller, you will get your money. As buyer, I don't need the seller judging my finances. You're a stranger to me. If we have a deal, that's all that matters.
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