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  • Why Sellers Choose Sue von Rosen - Why home sellers in Clarkston, Lake Orion and Rochester choose Sue von Rosen.

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Real Estate Tips
First Time Buyers >The Seller May Pay

The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.

One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.

Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.

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Real Estate Trivia
Q 
How did actress Jayne Mansfield decorate her Hollywood "Pink Palace" without buying any furniture?

A 
She wrote to furniture suppliers asking for free samples, telling them they could brag that their furniture was in her outrageous mansion. She received over $150,000 worth of free merchandise.
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Sue von Rosen, REALTOR®, real estate agent and broker for Clarkston, Lake Orion and Rochester, Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Sue von Rosen
RE/MAX Encore

8040 Ortonville Rd., Suite E, Clarkston, MI 48348
Mobile Office: (248) 535-2173
Fax: (248) 282-5380
Email: sue@callsue.com

Sue vonRosen is your "Competitive Edge" in today's challenging real estate market. Call her today for aggressive marketing, cutting-edge technology, attentive service and support, professionalism, enthusiasm, and success!

ABReProEqual HousingERCMLSREALTOR



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