Home Buying in 92627>Question Details

Buyer, Home Buyer in 92627

Does it really help to have an offer acccepted by offering to pay the sellers escrow fee's in this market?

Asked by Buyer, 92627 Sun Aug 2, 2009

Home is in Orange County, CA.

Help the community by answering this question:

Answers

6
Amy Mosley’s answer
It is not necessary to offer to pay the sellers escrow fees. If you are in a multiple bid situation I will give you some suggestions on what to do if you want to get the property.
1. Go to the maximum price that you feel comfortable with. This way you won't look back and wish that you offered more when they tell you that you didn't get the property.
2. Have a strong preapporval letter from a reputable lender/company that the listing agent will be comfortable with.
3. Tighten up the contract and dates.
5. It is not a bad idea to write a short note telling a little about yourself, your stability and your qualifications.
6. Have a great buyer agent that knows what they are doing and has strong negotiating skills so they can represent you.
1 vote Thank Flag Link Sun Aug 2, 2009
Sure, of course it will help.
0 votes Thank Flag Link Tue Sep 29, 2009
Dear Buyer:
This is a difficult question to answer without knowing all the facts; price of sale, all terms and conditions, overall strength of offer, etc. Every home transaction is different and unique - just like each new person we meet. Best wishes,
0 votes Thank Flag Link Sun Aug 2, 2009
Hi,

I think that it depends on the seller. If this is an equity sale, and we are beginning to see more of those, it might very well help. If you are writing an offer on a short sale or foreclosure, then you might consider offering things that are more creative. Offers need to be written to appeal to both the listing agent and the bank negotiator.

I would offer to pay for termite inspections, transfer fees, HOA transfer fees, etc. Some of the incidentals which are things which the negotiator has to take into account, but which vary. The listing agent should be in touch with the negotiator to know what fees are things which can cause a problem. Offering to pay any past due HOA dues....(prior to the offer date) might also be an option...I'm brainstorming as I write! :) I like the idea!!

We want to present ourselves as the easiest buyer to the listing agent and the bank. That makes us more attractive.

Thank you for asking this question....you have given me ideas which I will use with other buyers.

Karen
0 votes Thank Flag Link Sun Aug 2, 2009
Relatively speaking the seller's portion of the escrow fee is not that much. Besides the way the bank looks at what they net is divided up between the purchase price being 1 ball of wax (so to speak) & their closing costs & / or seller concessions another ball of wax. It's strange how they do this, but what they really just want to see is who is the strongest buyer bringing them the highest net.

An FHA buyer offering $250K for a $225k list price may lose out to a Cash Buyer offering $230K.

emilyknell1@yahoo.com
0 votes Thank Flag Link Sun Aug 2, 2009
Dear Home Buyer,
I have not heard of a buyer paying the seller escrow fees. Seems a unique approach. It couldn't hurt! In this market we are seeing many apprasials ocme in low, doesn' t really mean the home is not worth the selling price! There are many repos out there that reduce the area median price with somewhat a false low. Paying the seller costs could help with an apprasial issue and still net the seller what the home is worth. My only concerne would be starting a trend that could put many buyers out of the market! There is a place for everything!

Connie Bramble
714-337-8718
0 votes Thank Flag Link Sun Aug 2, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer