If the Buyer is obtaining a mortgage, then an allowance would not be acceptable. Lending guidelines consider an allowance to be an inducement to purchase. That requires that the sales price be reduced by the amount of the allowance.
Replacing the carpet now with a neutral color will generally make your home more showable.
The Buyer might make carpet replacement a stipulation of the sale. In those cases, when the carpet company will allow it, the carpet is replaced before closing and paid for on the HUD-1 Settlement Statement at closing.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.... more
Disclose in writing to the lender which property will be used as your primary residence and which property is an income producing investment property for your portfolio. Hang on to a copy of your disclosure.... more
USDA LOAN PROGRAM 620+ Mid Score Require 30 Year Term No Down Payment No Cash Reserves 100% Gift Permitted 6% Seller Concessions Allowed Finance all Closing Costs up to Appraised Value No No Declining
I am from the West and I love contemporary homes. Wonderful large windows that let the sun and scenery in. I bought in Rivermont and for the price, this community has the most amenities, best schools, and best value. Large houses on large lots, No cookie cutter houses here. I bought in here.Buy here and you won't be sorry.... more