I have written many purchase contracts with clauses that the seller pay X amount of $ towards various items associated with buyer's closing. To that list,, I add inspections.
If there is enough of the buyer's money (and if it's approve by the buyer's lender) my buyer has POC'd these invoices and gotten reimbursed at closing. The other alternative is to have the inspector hold the fee on thebuyer's credit card and have a check written at settlement to the inspector. An inspection fee is like any other closing associated fees (survey, appraisal, etc.,) and,, if the contract is written correctly and the lender is briefed, can be covered in the closing costs. For a VA buyer, a seller can pay a portion of a VA debt so your lender may be able to authorized the payment to be made at settlement that way. Of course, this is providing that the seller is wiling to contribute enough at closing to cover all these items. I always leave a little lead way in my wording regarding settlement contributions just in case we have a little money left over. That way, it can be applied to the sale somehow.... more
Usually it is the buyer rather than the seller who pays for the inspection (except for termite inspections on VA homes). The only expense commonly seen by sellers before closing is repairs and upgrades.
I do recommend that:
1) you replace any carpet with laminate, wood or tile floors (most Florida buyers don't like carpet)
2) you return any colorful walls to a more neutral tone
3) you ensure that any minor repairs are taken care of.
I have an office on the corner of Malabar and Emerson in Palm Bay.
I work for a well known real estate company with offices nationwide - Coldwell Banker.
I'm very familiar with the Palm Bay area and can let you know the market and selling value of your home and advise you how I can market your home.
Check out my statistics on Trulia; and I look forward to hearing from you.
Phil Rotondo, Realtor, ABR, SRES, e-PRO
Coldwell Banker Residential Real Estate
Hi Mimmo, Figured I would ad a little. Most recently I had a commission of 7%, an extra 1% went to the selling agent( buyers broker) if sold by a certain date. Thsi aatracts more agents to show your home.
Think about this- would you show a home that you have to split with the broker as your brokers cut is only 2.5 of the selling price, or would you prefer 3% or more. In most cases the 1% bonus is not split. So you as an agent would make more money.
Now what I am allowed to do with an approval is, if I sell it myself and it is my listing, then we can go 1% lower on the commission paid.
Give me a shout 480-2544, firstname.lastname@example.org... more
Schmoopie, You are right your situation in not unique, there are many people that have been captured by the HELOC monster, however I do believe that you can rent your home out. The market in Palm Bay depending on size and location can go as low as $500 all the way up to $1000 a month but like I said size, location and condition are factors to consider when deciding to rent out your home. You can use a property management company and they do help fill in the gaps if you don't want to deal with maintaining your home yourself, however they do charge a monthly fee for their services that can be as high as 10% of your monthly rent. A realtor whether you use a property managment or not, is the best way to rent out your home. We will do background checks help to arrange the paperwork and advertise for you to help ensure that your home is rented out in a timely manner. I have exp. in this area and would like very much to talk to you if you so choose, just call me as I said before and we can set up an appointment to talk over your options. David Rufino (321) 917-7828... more
JASMIN, How many times are you going to ask the question? Would you like for one of us to come and get you and hold you by the hand and bring you to the bank. Do you have the mortgage papaers and statements. Can You Read? It will say ion the monthly ststemants how much he owed. But as I said before. DId you go through probate and file the will? Or you are not going to be able to do anyhting at all. I told you call me and I will give you a Real Estate Attorny's name and number. Nopw is that hard?... more