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Writing the Offer - Financial Considerations
It is standard practice to make a purchase offer contingent upon obtaining a mortgage. Because of this contingency, the seller will want the details of your financing plan included in the offer.
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Down Payment
In the purchase offer, we will include the down payment amount you will apply toward the purchase. This will give the seller further evidence of your qualifications to secure a mortgage.
Interest Rate
Within the purchase offer, we will provide a safeguard against any dramatic change in interest rates between when the offer is made and when the loan is closed. The offer will not only be contingent upon qualifying for a mortgage, it will also be contingent upon an interest rate within a certain range.
Seller Assistance
If the house you select is at the top-end of your budget range, we may want to include a request for seller assistance to pay a portion of the closing costs traditionally paid by the buyer or to help "buy-down" your interest rate. Other seller assistance may include having the seller "carry back" a second mortgage to cover your down payment or even 100% seller financing.
With any of these seller assistance options, you can expect to pay a higher purchase price than if you had handled the financing through a traditional mortgage lender. |
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Southern California Beach Cities Real Estate
Income Properties, Apartment Buildings, Multi-Units, Brand New Construction, Luxury Homes, Vacation Homes, Condos, Town homes, Single Family Homes, Own Your Own, Bank Owned, REO's, Bank foreclosures, Fixers, Short sales, Distressed Properties
Horse Property, Beach Front, Ocean View Homes.
DAVID FRAZER
310.755.4724
REALTOR®
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Please feel free to browse through this site to explore the Los Angeles County beach communities of Redondo Beach, Torrance, Hermosa Beach, Manhattan Beach, El Segundo, Palos Verdes, Rolling Hills, Lomita, Gardena, Marina Del Rey, Santa Monica, and Malibu CA.
Direct access to the latest properties for sale in your area. Featuring extensive community information, consumer links, school information, free reports, answers to commonly asked real estate questions, and more, youll you will everything about real estate within one easy source. Dave Frazer specializes in the westside and south-bay areas of Los Angeles, California. |
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If you currently own property and are thinking of placing it on the market, this site contains information about preparing your home for sale, selecting the right agent, pricing your home appropriately, marketing it effectively, going through the inspection processes, and successfully closing the sale. |
Royal Crown Real Estate 4640 Admiralty Way #500 Marina Del Rey, CA 90292
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