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Closing Costs and Financing
Incentives
There may be times when you may request that the
seller to pay all or a portion of your closing costs or perhaps provide some
other financial incentive (for example - holding a portion of the note,
owner financing, etc..) Commonly requested is to ask the seller to provide
funds to temporarily buy down your interest rate for the first year or two.
Such incentives can be especially effective if a buyer is tight on money or
pushing their qualifying ratios to the limit to purchase the home.
Whenever asking for these incentives, you will
generally find that the seller will be less willing to negotiate on the
selling price.
After all, what you are really asking for is to have the seller personally
loan you
some money to help you in purchasing their house.
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