Interested Landowners Should Contact MET Before September 19The Maryland Environmental Trust (MET) encourages private landowners and working farmers looking to protect their land through conservation
Good question. I share with my buyers that not everyone has the equity to accept a low ball offer. Your scenario is the prime example. I always do the math of what their interest rate is and what the difference would be in their payment offering full price v. the low ball figure. As a result taking $25,000 out of your pocket, which you don't have, will save them a small amount monthly. In other words, if they like the house is it worth them being rejected to save maybe $45 per month (depending on their rate of course). If you're agent isn't sure how to figure that, have him/her contact the lender for the buyer to ask the impact on their payment and if they can qualify at full price or higher.
You could take the above approach or counter to full price, or slightly over if you want to grant closing help. Just begin the dialogue of negotiation.
Hope this helps. Good luck!
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