AJ you are right and a good lender will find a way to use everything in the contract. 

AJ

It is amazing to me that this tactic is not used more by real estate agents. The difference in payments for their client with a temporary or permanent buydown can be huge, not to mention the possible tax benefits for the buyer of the buydown paid for by the seller!

Great list for both agents and buyers and sellers.  Many don't know what all a lender will allow the seller to pay.  Here seller paying closing costs is almost a given!

Great Blog my friend, where's all your Video???  LOL!~  My speakers must not be working!!  :-))))  Have a great rest of he week my friend!  BTW - Bill Clemente says hi!  We were checkin you out and talking about you at the "Real Rain" meeting in Walnut Creek this week.

B-)

AJ, the way we write our contracts is: 3% to include buyer's closing costs, prepaids, etc. That way, there can technically be a check written back to the buyer. If one says "up to," that would be different.

Great list!

Brad, Thanks.  when you referred to the "Real Rain" meeting in WC, what is that?  Bill introduced me to AR.  And Video, I will have to sign up for an acting class first. AJ

Thanks Teri.  Would this work for 3 to 6% for the Nehemiah program? AJ

AJ, probably.......but sometimes we don't even need to use one of those programs - depending. Now a days, many are using FHA, so they make an offer with the condition that the seller pays 3% of closing costs and prepaids. Since most of the costs and prepaids do not go as high as 3%, the buyer is credited the difference from the closing costs to 3%. Hopefully that makes sense. ;-)

Teri, We typically have a different clientele in CA.  I would think typically younger and haven't had a chance to aquire equity.  With the high price of housing, 3 to 6% is a lot of money.  ACORN, CalHFA and FHA are about the only programs that a lot of them qualify for.  BofA just changed so most their combo from an 80-15-5 to an 80-5-15.  Not many people can come up with 15% down.  I suspect that your market has a lot of clients with a lot of equity that use the system to their advantage. AJ

AJ - the Real Rain meeting is a group of members from AR who meet in Walnut Creek every couple weeks to a month to discuss Blogging and brainstorm on new ideas and how to implement the ones that help grow your business.  It's the same thing we do here on-line, but we wanted to meet in person.  This is the next level of taking your AR connections to a deeper and more meaningful relationship.  Let me or Bill know if you're interested in joining our group?!?  Hope you had a great weekend!  :-)