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Posted on 4/23/20 at 4:46 pm to cubsfan5150
I have used two; the one I'm with now is far superior to the previous. I believe it is called American Home Warranty.
Posted on 4/23/20 at 5:25 pm to cubsfan5150
quote:
I guess it's not really a set-aside... more of $2K allowance on anything that might come up on the FHA insp.
So you’d only be responsible for $2K if they find a $10K issue? I doubt that. Again, it’s a weird request the way I’m understanding it.
Posted on 4/23/20 at 6:31 pm to cubsfan5150
If you feel like they are short on cash, you can always counter offer for full asking price and offer to pay those closing costs they requested.
Basically allows them a way to finance closing costs but doesn't hurt your bottom line as much.
Handling inspection fees is pretty standard, esp for termites.
I wouldn't agree to the $2k set aside for repairs. On a house built in 96 you definitely can find 2k repairs. Buyers have to understand they aren't buying a new construction, wear and tear is expected.
Ultimately it depends on how bad you want to off load the property to sacrifice profit
Basically allows them a way to finance closing costs but doesn't hurt your bottom line as much.
Handling inspection fees is pretty standard, esp for termites.
I wouldn't agree to the $2k set aside for repairs. On a house built in 96 you definitely can find 2k repairs. Buyers have to understand they aren't buying a new construction, wear and tear is expected.
Ultimately it depends on how bad you want to off load the property to sacrifice profit
Posted on 5/1/20 at 4:48 pm to Puffoluffagus
And they backed out today... claimed that they lost financing. Should my realtor have asked for proof?
Posted on 5/1/20 at 4:59 pm to cubsfan5150
You’ve been on the market 120 days, they think your house is worth 220, but they need cash to get loan so they are offering 230 minus the other stuff.
If you’re ready to take 220k after 120 DOM go for it, if not, walk or counter
Edit - probably should have scrolled down
If you’re ready to take 220k after 120 DOM go for it, if not, walk or counter
Edit - probably should have scrolled down
This post was edited on 5/1/20 at 5:00 pm
Posted on 5/2/20 at 4:18 pm to cubsfan5150
Financing is getting tougher so it seems plausible that the buyer was denied. Especially because they sound cash poor and many lenders are apparently demanding 20% down up front.
Posted on 5/2/20 at 6:10 pm to cubsfan5150
Sounds like after all of that they are still willing to pay more than 90% of asking. That’s a pretty good deal.
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