FINANCING

Unfortunately, in today's market, any seller is probably going to have to participate in the purchasers financing by paying part or even all of the buyers closing cost. These cost vary depending upon the type of financing the buyer elects to secure.

Upon the receipt of any offer to purchase, it is imperative that we pay particular attention to the financing the buyer is going to obtain. The offer must be clear as to who is paying what. Any dubious language must be clarified to insure that there is no misunderstanding about what cost the buyer is expecting the seller to pay. Discount points and loan fees, contrary to some opinions, are not the same. In the event of reimbursable closing cost by transferring company, that company may reimburse discount points paid by the seller.

We will review most carefully every aspect of the financing portion of an offer. We will calculate the cost of those charges to be paid by the seller. We counter propose or clarify those unsatisfactory or unclear charges. It is important that we understand that the intent of the buyer when determining these cost. A misunderstanding as to the intent of the buyer, or lack of clarity of the financing language can be a costly factor. I have extensive training in all aspects of financing and contracts to insure that we do not run into any ambiguities when dealing with this part of selling your home.

Why does the seller have to consider paying these costs? Unfortunately, most buyers know that if a seller doesn't participate in financing cost, there are numerous other sellers that will. However the goal is to price your home right initially, so that it will be so desirable that you will have many full priced offers within the first week.

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