Mike May, Realtor 804.731.0111 Mike May, Realtor 804.731.0111
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Chesterfield County Real Estate: How Financing Can Affect Your Offer

Posted By @ Nov 8th 2011 11:59pm In: Chesterfield County Real Estate

How Financing Can Affect Your Offer

There may be times when, as part of your offer on Chesterfield County real estate, you request the seller to pay all or part of your closing costs, or provide some other financial incentive.  One common request is asking 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.

Whenever you ask for incentives such as these, you will probably fins the seller less willing to negotiate on price.  After all, what you are really asking for is have the seller give you some money to help YOU buy Their home.  The end result is that, for  a little relief in the beginning, you are willing to pay a little more in the long run.  You should also contain information on whether you are obtaining a fixed rate or an adjustable rate mortgage.  It should also state whether you are obtaining conventional financing or obtaining a VA or FHA loan.  Your realtor can help you make these decisions and get you working with a reputable mortgage company if needed. So if you are actively seeking your new A-May-zing Chesterfield County real estate and need to get ramped up, team up with a knowledgeable realtor that works for you!



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