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I don't quite know about relo's...but anyway, home had been on the market for almost a year because of higher price (this is a different home then I posted about previousl)...and now it's 182K. We put in a bid for $178K plus $8K in closing which would bring the price down to $170. That's 12K off the regular asking price. Is that cool...in a market (SWFL) that has tons of homes for sale?
Thanks!
It's a FHA loan and they want some $$ in reserves (or something like that, I don't quite know). The estimated closing we calculated was about $6,9K...so my realtor said that if they pay that...prehaps any extra can be used to bring down a point or something.
They just NOW countered with $180K plus 3% closing. I do need my closing paid for (do have money, but would like to use it on something else)...so we are countering with $180K and the $8K closing again (my realtor thinks that perhaps they think they can only pay 3% closing because with a lot of FHA loans you are only allowed to do 3% in closing, but with mine we are allowed to do 6%)/
I don't quite know about relo's...but anyway, home had been on the market for almost a year because of higher price (this is a different home then I posted about previousl)...and now it's 182K. We put in a bid for $178K plus $8K in closing which would bring the price down to $170. That's 12K off the regular asking price. Is that cool...in a market (SWFL) that has tons of homes for sale?
Thanks!
I believe you could have gone up to 6% for closing costs, seller concessions, (which is $10,680), but as for if you did alright.. I wouldnt guess without knowing what the appraisal came in at.. If the property appraises for $150,000 you didnt do alright.. if it comes in at $250,000 you did just fine..
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