Page 24 - How To Buy A Home with Cat Stevens RVG

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Making An Offer (Continued)

You might pay the list price if…

■ The seller is paying the closing costs for both you and them. The seller can pay your closing costs. You do
not need to have money for a down payment or closing costs. However, there are advantages to paying your
own. You should talk to your lending officer, also known as your mortgage loan officer. If you want the seller
to pay your closing costs for you, add it to your offer price. Most of the time the seller expects a full listing
price or more than list price to be able to afford paying your closing costs and their own costs. If the house is
listed at $100,000 and the sellers are willing to accept an offer of $96,000 but you want them to pay your clos-
ing costs of $4,000, then you’ll probably need to offer them the full $100,000.
■ The house just came on the market this week and they’ve had many showings. If they get a low offer in the
first week or two, the seller will probably wait for a better offer rather than take a low one.
■ The sellers are not motivated. They are only moving because they want a bigger house, or are ready to move
from a large two-story to a smaller patio home. They might also wait for a better offer since they have the
luxury of time.
■ They just bought the house last year, and the list price barely covers the cost of paying off the loan and the
cost of selling it. Anything less than this price and the seller loses money. They intentionally priced it lower
than other houses in the area so that it will sell quickly.

Keller Williams Realty Consultants - How to Buy a Home in Southern Indiana 22