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Buyer Wants Concessions |
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I am selling a home in Orlando, Fl. It is listed at 190K. The buyer wants me to split 6 points based on the loan amount of $185K, which is $5550 (in addition to 6% RE commission). Is this now typical in this market in Fla (Orlando)? This would make total closing costs for me at close to 20K.
As a new listing, should I take it or wait for another offer-one with no mortgage or less points? What would you do if it was yours. |
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How anxious are you to sell? How long did you have the place on the market? What will you do with it if you don't sell? Did you get other offers? How much is it costing you every month? Are you living there? Do you have a mortgage to pay off?
As you can see, the answer is, for a change, "It all depends." But I will tell you that buyers seem to be demanding more concessions these days. Whether you go along with them -- well, it all depends. |
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Edith
Originally published on October 10, 2007 |
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