We have a potential buyer for our home that we're still negotiating price with...but they are insisting on an August 31st closing. We want a September 30th closing. Their offer is asking us to rent back from them for a month for $1000. I told my agent that I wanted a traditional closing--where I sign the papers, hand over the keys, and walk away from my house forever. Maybe stay in a hotel for a few days between our selling closing and our buyer's closing on our new house in another state. Clean and simple. My agent kept pushing for it, saying "Lots of people do it..." and "I think you should do this..." I told her that the $1000 rent is money lost to me, whereas I could put that $1000 towards my normal mortgage payment instead if we do a normal closing." She said, "Not much of your payment goes to principle anyway", and I told her, "I have a 15 year loan with a low interest rate. About 800 goes to principle". Am I wrong for being so against this and wanting a normal closing?
2007-08-14
00:51:42
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10 answers
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asked by
Anonymous
in
Renting & Real Estate