Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-09-2007, 12:23 PM
 
6,565 posts, read 14,330,100 times
Reputation: 3230

Advertisements

Quote:
Originally Posted by gottaget View Post
Can that be done with some of the money form the loan? For instance, They get a loan for $150k, we drop our sell price to $140k to help with their closing. Can they use money from their loan toward the closing costs?

The reason I ask is that we don't have $8-10,000 to put toward their closing costs.

Thanks for thinking about us! This is definitely an unexpected mix of great and not so great news for us. Just hope we can pull it off without having to deed-in-lieu or something, but she IS taking that job!
Yes, if I remember correctly it can be taken directly out of proceeds from the sale.... In fact, when we bought our house we had them INcrease the price in order to roll our closing costs into the mortgage because we didn't have cash to close...... It's a nice incentive for a buyer because, unless they pay points on thier loan, it means very little out of pocket for them...
Reply With Quote Quick reply to this message

Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top