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not paying closing costs usually requires a sellers concession. meaning sellers agree to net less cash- so you can finance closing costs. you would work with your agent to negotiate this into your offer if that's what you want to do. however as other have pointed out, if it's a sellers market they may not want/need to make concessions.
You could also speak to your lender to see if they have 102%-103% financing programs. may be available with a va loan but i'm not sure.
still expect to have some expenses. Appraisals are usually $350-$475, which you'll need to pay out of pocket. credit report $15-20. you usually also need to pre-pay escrow and your first 1-2 mortgage payments at closing.
The seller may help you or pay closing costs if they agree to do so in the negotiation stage. They are not required to pay closing costs. Most do help because that’s usually the only way to complete the sale as the buyer usually has a hard enough time getting the money for the down qualifying for the loan.
You should work with a agent that deals or even specializes with VA loans
There are two issues here. The first issue is whether I can get a seller to agree to whatever offer we make. The other issue is whether my agent will make an offer such as you describe. My question relates to the agent; he is requiring me to make a deposit of $9K or more before he will do anything. I realize that I can submit an offer for more than the asking price and request that the seller pay closing costs from the additional amount. The issue is that the agent seems to be ignoring that.
I am dealing with an agent that is experienced with VA loans. I at least assume so but as I explained already, I got referred to a second agent because the first does not belong to the MLS that most of the homes are in that are in the market I am looking at. Whether the agent is experienced with VA loans or not, I will try other agents.
still expect to have some expenses. Appraisals are usually $350-$475, which you'll need to pay out of pocket. credit report $15-20. you usually also need to pre-pay escrow and your first 1-2 mortgage payments at closing.
There are two issues here. The first issue is whether I can get a seller to agree to whatever offer we make. The other issue is whether my agent will make an offer such as you describe. My question relates to the agent; he is requiring me to make a deposit of $9K or more before he will do anything. I realize that I can submit an offer for more than the asking price and request that the seller pay closing costs from the additional amount. The issue is that the agent seems to be ignoring that.
I am dealing with an agent that is experienced with VA loans. I at least assume so but as I explained already, I got referred to a second agent because the first does not belong to the MLS that most of the homes are in that are in the market I am looking at. Whether the agent is experienced with VA loans or not, I will try other agents.
I can think of no situation that requires you to give a deposit to an agent before a house is even found.
My step daughter and son in law just sold their house here and are buying one in another state. They agreed to pay closing costs in selling their place here and the seller of their new house has agreed to pay it there.
There are two issues here. The first issue is whether I can get a seller to agree to whatever offer we make. The other issue is whether my agent will make an offer such as you describe. My question relates to the agent; he is requiring me to make a deposit of $9K or more before he will do anything. I realize that I can submit an offer for more than the asking price and request that the seller pay closing costs from the additional amount. The issue is that the agent seems to be ignoring that.
OK, what on earth does that MEAN? What is the $9,000 deposit FOR? OP, sorry, but you're not being clear (maybe because the whole process hasn't been explained to you). And what does "before he will do anything" mean? Before he'll work with you? What????
I don't know why you would have to put down ANY deposit ANYWHERE until you make an actual offer on a house.
I think you need a new agent ... but I suspect you may have just misunderstood something as what you've said makes no sense at all.
Well I sent the agents links to this discussion. Maybe I should not have but I did.
The agent said that they are not asking me to pay a deposit to them but he is still vague about what I am supposed to do with it. He also says that I must pay for my closing costs and that I cannot add it to the loan; implying it cannot be added indirectly by offering to pay the additional amount.
So again, it might all be valid but if so then it is still not clear to me.
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