Question Details

jimdillenburg, Home Buyer in 55427

BOA Lender offer to pay "all your closing costs.."

Asked by jimdillenburg, 55427 Sun Jul 1, 2012

I don't have a Good Faith Estimate yet, but this is a property owned by BOA. The BOA lender that issued the pre-approval letter (BOA required their own pre-approval on this property) said he would also pay "all of your (my) closing costs" and have a few hundred dollars left to put in our escrow account.

Anything I should be on the lookout for? Does this sort of offer from a bank on a property they own typically include, closing costs, third party costs, escrow, pre-paid items and everything or am I overestimated this offer.

(Obviously I will know more when I receive my GFE)

Thanks

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Answers

2
BoA is Bank of America: There is not a "BoA lender" ; that would be BoA.

Could you be talking about a Management Company?

Ask your Realtor to get the name of your Escrow Officer, and go see him/her and ask for a HUD1 which will show more and different from the GFE. You want to have both.

Good luck and may God bless
0 votes Thank Flag Link Mon Jul 2, 2012
Jim,

Well it is the first that I am hearing of this. It is entirely possible. I don't believe that someone from Bank of America would say that they were going to pay your closing costs and then not do such. Get that closing cost worksheet that Bank of America provides.

Best Wishes!

Sincerely,

Fred Strickroot, Realtor®, MBA, CDPE
HomeNet
Florida Lic. Real Estate Brokerage
2154 Seven Springs Blvd, Suite 103
Trinity, FL 34655
1-888-864-2758
727-478-8997
homenetyouteam@homenet.us.com
http://www.homenetyouteam.com
0 votes Thank Flag Link Sun Jul 1, 2012
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