Made offer of $50 thousand on house, so I can get bank loan.
House listed for $49,900. In purchase agreement< I ask for closing cost plus if inspection shows need repairs. Seller will cover cost. Got a counter offer that if inspection doesn't pass. Seller is out and that seller will pay closing cost,. However. The asking price would change to $52,900.
Is the seller giving me a red flag on the repairs. My realtor says Go For It. It will only increase the payment by 6 to $12 a month over 30 years.
The closing cost are going to be around $2,600 with Interest rate at 6%. I feel like the realtor is working against me. Help!!
2007-12-23 05:55:15 · 3 answers · asked by muggs 3 in Business & Finance ➔ Renting & Real Estate
The realtor is a buyer agent
2007-12-23 10:39:57 · update #1
Watch out. You may want to counter with an offer that states seller pays any repairs that are uncovered up to a certain number... but I would walk away. This is a slow real estate market and if you just keep making low offers you will find a good deal. Just take you time.
2007-12-23 06:01:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The seller is not giving you a red flag. Your offer was contingent upon a blank check after the inspection meaning you could have demanded any repair on earth after it was inspected.
You are right to be suspicious of your Realtor! He does not sound like he is looking out for anyone but him/her self.
Let the counter-offer die, get another Realtor and write a new offer contingent of an inspection but don't mention repairs (repairs can be negotiated after a contract is agreed upon) with seller paying closing costs of a specific amount. From the sound of it you are considering a foreclosure home and they most go "AS IS" anyway.
2007-12-23 06:07:26 · answer #2 · answered by linkus86 7 · 0⤊ 0⤋
Are you working with YOUR realtor (buyer's agent) or with the listing agent of the seller? If it's the latter, of course he's working against you. He represents the SELLER.
The seller is apparently willing to go along with your request that closing be included in the purchase price, but also wants you to bear the costs.
As far as the inspection goes, the seller has his choice whether or not to swallow the cost of any issues discovered.
2007-12-23 08:51:35 · answer #3 · answered by acermill 7 · 0⤊ 0⤋