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.