Is this a strong offer?
I put an offer in on a house today. Asking price was 275k I offered 280k and sellers pay closing. Is this considered a strong offer when buying a house?
I put an offer in on a house today. Asking price was 275k I offered 280k and sellers pay closing. Is this considered a strong offer when buying a house?
curtisports2
Asking the seller to pay closing costs can make you look like a weak, borderline buyer with a strong risk of a lender turning you down, thereby tying up the seller's property for weeks and missing out on stronger buyers. In my area, once an offer is accepted with no other contingencies but the financing approval, that property is off the market and not shown anymore. If I was the listing agent, I would press the agent for the buyer on specifics about the buyer's finances, and advise my client based on that.
If you have the cash to pay the closing costs a buyer normally pays, pay them and don't complicate matters.There is also some degree of risk in the property not appraising for the higher amount, or being borderline. Lenders are not particularly crazy about financing closing costs, though there are some programs specifically for this.
Anonymous
depends on the market. If the seller has multiple offers he may reject yours. If not, he may accept it.
realtor.sailor
In my area that would be a strong offer but in my area it's standard for the seller to pay closing costs; transfer tax and title insurance.
Judy
depends on the market where you are.
Barry
Your 'strong' offer doesn't matter if the agent or seller rejects it. The smart way to buy is to ask the agent if the seller would take an offer. That way the agent doesn't get irritated by your approach and he is more likely to promote your offer to the seller to effect a sale. Your blunt offer will likely just be used to lever more out of another buyer. 'Softly softly catchee monkey'.