Tucker Mullen's Discussions

Its a bank owned property. That explains the pricing. Bank owned homes are the thing to buy. As you can see, prices can't be beat. That is why its so hard to sell anything BUT a bank owned home right now. The banks want nothing more than to get these properties sold, so they price them to sell them.

Obviously closing cost are a must. But in this market, and the upcoming market, most closing costs are negotiated to where the seller pays it.Lets not beat around, the economy is terrible and money in the your bank account is more important than ever. If you can keep it in the bank, then why not do it?You and your realtor can negotiate it and have the seller pay for it. If the seller is not willing to pay the closing cost, then you might find yourself adding the closing cost to the offer price and basically attach it to your loan.For example, you offer $100,000 and for the seller to pay $4,000 in your closing cost. He counters and says he will not pay your closing cost. If it comes down it it, which in many cases it does, you could then offer $104,000 and ask for closing. Seller still gets what he would have and instead of you pulling $4,000 out of the bank, it's not attached to your loan.Hope this helps and makes sense, more difficult to explain on here than in person!