Home Buyers Don't Get A Check At The Closing

By
Real Estate Agent with William Pitt Sotheby's International Realty CT RES.0783448

Under the current lending regulations, buyers can not get a check at the closing table for any repairs they want done after the building inspection. Following the home inspections, buyers might see items on the report they want would want addressed. In some situation, the home owners may not have the money available to hire a licensed professional to correct the issue as part of the negotiations. In that case, if we negotiate, the home owner can either offer a credit toward the buyers closing costs that could go toward the fees needed for their mortgage or take the cost of repair off the negotiated sales price.  Buyers don't get a check so they can pay their  contractor once the house is sold & officially theirs-


Posted by

Jonathan Hall, Realtor Serving Greater Danbury & Candlewood Lake with William Pitt Sotheby's International Realty
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This information is provided by Jonathan Hall,Realtor  with William Pitt Sotheby's International Realty in the Greater Danbury & Candlewood Region of CT. For additional information, please call him at 203-417-0523,203-796-7700X305 or email me at danburyrealestate@gmail.com . Unless indicated, all content is the property of Jonathan Hall. If you would like to use any of this information, please contact me for permission. He is a licensed CT Salesperson License #RES.0783448 with William Pitt Real Estate LLC License # REB.0751698. His office is located at 112 Federal Road,Danbury CT 06811.

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Rainmaker
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Dana Hollish Hill
Hollish Hill Group, Keller William Capital Properties - Bethesda, MD
Lead Associate Broker

I work in DC, MD and VA and we cannot lower the price based on home inspection repairs. The sales price stays the same and we typically have the seller credit the buyer money toward closing costs as you mentioned. 

Jul 29, 2018 02:04 PM #1
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Rainmaker
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Jonathan Hall

Realtor - Danbury,CT Area Real Estate~203-417-0523
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