Hi there... depending on the comparables in the area, you can structure your offer to include closings costs. What I would do is talk to the agent and find out what exactly the bank is looking for. Sometimes they'll tell you, sometimes they don't even know. I would discuss with your lender your financing objectives, taking into consideration your cash in hand and structure an offer based on that information as well as the comparable data. If you have a good agent, they will be able to structure your offer to be appealing to the bank.

Good luck!

Cathy Chapman, Broker/Owner/Agent
Signature Home Sales, LLC
301-514-6839 Cell

Without a doubt. Ask for the world- all they can do is say no.

In my experience it's not terribly unreasonable to ask for closing costs. Some banks will allow it and some won't. Some have guidelines that limit the percentage of total closing costs allowable. Wells Fargo for instance wants to see that all closing costs (commission, seller closing costs, and any buyer concessions) are under 10% of the sales price.

The other question to be answered is how realistic is the list price? It doesn't matter much to the bank that you offered full price unless they have determined that full price is acceptable to them. And then your concessions would decrease their net, too.

Best of luck!

With Your Success in Mind,

Shar Rundio
Keller Williams Integrity First Realty
480.560.7255
Twitter: @sharrundio

Hi there,

Based on my experience, the investor only allows a max of 3% of closing costs to a buyer on a Short Sale and I have seen buyers increase the offer by however much they will be short. Additionally, I believe now the only way to get into a home without any cash is if you are a Veteran. Call my preferred lender, Tom Norris. He can answer all your questions. His number is 301-461-0559. Tell him Cathy Chapman referred you to him.

Cathy Chapman, Broker
Signature Home Sales, LLC
301-514-6839 Cell