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Helping the Buyer |
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I want to aggressively sell a 2nd home that has 0 mortgage. Thinking of targeting 1st time buyer with a option of helping them get into this home by paying 10,000.00 down payment. Would this be a wise decision to make and would this help sell this 3 bedroom ranch in great condition??? If you disagree please give advice. It's has all new carpeting & laminate floors totally repainted and move in condition. |
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More sellers are indeed offering concessions to buyers these days, in areas where sales are getting more difficult. "Seller may help with costs" is an attractive phrase in an ad. But I have no idea what price range you're talking about. Most mortgage plans have a limit on the percent of sale price that's acceptable for seller contributions. That's because banks are especially careful, these days, not to help buyers get in over their heads. And of course, to avoid committing fraud, lenders must have complete information about the financial arrangements. |
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Edith
Originally published on January 20, 2008 |
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