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Price Reduction vs Seller Concession
combination of tighter loan guidelines, a seller reducing their asking
price may not be as beneficial to a buyer as seller paid points in
concessions could be.
If you were to take the same amount of money a seller would
potentially lower their price by and have the seller move that
amount into lowering your interest rate, the majority of the time
you are ahead...especially in an escalating rate environment.
The seller reduces their tax basis and you get the deduction for
paid points. (Please consult your Tax Advisor)
Please give me a call for further explanation and a cost analysis for
you.
price may not be as beneficial to a buyer as seller paid points in
concessions could be.
If you were to take the same amount of money a seller would
potentially lower their price by and have the seller move that
amount into lowering your interest rate, the majority of the time
you are ahead...especially in an escalating rate environment.
The seller reduces their tax basis and you get the deduction for
paid points. (Please consult your Tax Advisor)
Please give me a call for further explanation and a cost analysis for
you.
Chicago Illinois Home Mortgage Lender