Seller Concessions
Seller concessions are almost necessary for me. I went back to a house I really like yesterday and found out that it is bank owned. Being bank owned the probability of having a lower offer accepted is not good and even worse at receiving seller concessions. This kind of puts a damper on my plans. I have the cash to pay for closing but I was more interested in investing that into upgrades and repairs. This is way too hard.
posted by D-D at 9:44 AM
1 Comments:
That is why real estate agents continue to gain employment, Drew. I don't think you are really into the mix, here.
Get an agent you can trust to take care of you. I take care of my folks the way I want to be taken care of...you need someone like that!
Get hooked up with a financer who you can work with (a real live person with a phone, not an internet entity who can save you $10 a month by shaving an 8th off your interest rate.) Spend time with them to help you understand your options and limitations. There are thousands of financing options, including an FHA 203K program that allows you to borrow additional money against the house for fix up, based upon the value and condition of the home after the work is done.
Assume that there is a way to do just about everything and then find the person who has the answers. The only thing you can not overcome, in the short term, in the real estate market is a bad credit history.
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