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9.3
HOW
FINANCING DETAILS AFFECT YOUR OFFER
Closing
costs and financing incentives
There may be
times when, as part of your offer, you request the seller to pay
all or a portion of your closing costs, or provide some other financial
incentive. One common request is asking the seller to provide funds
to temporarily buy down your interest rate for the first year or
two. Such incentives can be especially effective if a buyer is tight
on money or pushing their qualifying ratios to the limit.
Whenever you
ask for incentives such as these, you will probably find the seller
less willing to negotiate on price. After all, what you are really
asking for is to have the seller to give you some money to help
you buy their house. The end result is that, for a little relief
in the beginning, you are willing to pay a little more in the long
run.
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