Profile picture for crbncntybuyer

buying fsbo, offering less than asking. seller assist?

hi, i'm wanting to purchase a fsbo in carbon county, pa.  asking 150,000 i can get approved and am comfortable with 140,000 (fha).  i'm not asking for all closing costs to be covered but would like to have assistance with some line items.  suggestions on which costs would be somewhat "fair" to ask for?
  • April 20 2010 - US
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Answers (2)

Profile picture for Barbara Q.
Money is fungible. Negotiate an amount... then decide where that money is best spent to suit your own financial needs. Closing costs? Lower interest Rate in the form of a permanent buydown or a temporary buydown? You decide.
FHA maximum concession is now 3%.
Good Luck with your negotiations!
  • April 21 2010
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How much to ask for depends on your market and if homes are really slow to sell.  Typically, the longer the house is for sale, the more you can ask for seller credits and any repairs.  "Fair" is defined between you and the seller.  What is fair for you may not be for the seller.  It is always a negotiation until signed and closed.  Having an agent deal with the seller could benefit you by having the right resources and negotiation skills to help.  

Typically, no more than 3% is given as credits towards costs, but all depends on the market area and the seller who has the final decision.
  • April 21 2010
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