I have worked with banks for many years and some of the tricks I have seen for both agents and buyers to get the best deal is be prepared. Present the best offer, complete approval letter and read and sign the requiered addedumn All banks have different requirements you need to agree to, read it ALL. It will save you a lot of grief and money in the end. I have one bank where if you do not ask you will have to pay both sides of the title insurance. Again read it all and know what extra closing costs are going to be. Typically due to the title co you will pay higher closing cost to the title company. Just be prepared. In the long run it will pay off.
The banks like to see owner occupied and when I present the purcahse agreement to the bank ther always ask. If the offer is to low they may not even reply however I have seen 3 people make the same offer and the bank will finally accept it based on days on the market. Timing is everything, but you also risk losing the house if you wait to long. Most often even the list price is more than competive so if you like the house and have tryed making offers but the bank will not come down think again before walking away. The bank is not afraid to walk away. If you are willing to risk you can always wait and present another offer later and see if time has made a differnece to the bank. I have seen winners and losers playing this game.
There is often a penalty clause if you do not close on specifed date that is why a good lender is key. They will charge this penalty. Again prepare and have all the docs the lender will require to the lender even before you make and offer. Surprices are not good. If for some reason you know ahead of time there will be a delay ask the bank to sign an addendumn to extend the closing date.
It is a great time to buy!!
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