My question is has anyone come across a deal where the Seller(bank) pays the assessments and now includes it on a new purchase price?

Asked by Vin Baker, Chicago, IL Wed Jul 23, 2014

Only because I dont want to pay $4k at closing. I'd rather pay on the back end. So instead of a $65k purchase price I'd have $69k

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Matt Laricy, Agent, Chicago, IL
Wed Jul 23, 2014
You can get stuck with back assessments. I would speak with your attorney on this.
1 vote
Jesse Howard, Agent, Arlington, TX
Wed Jul 23, 2014
I have seen that before and it is up to the buyer to decided if they will pay that. A lot of times to buyers get stuck with that because the sellers know's they can get another buyer if you terminate. The assessments are the responsibility of whoever owns the property at the time they were applied.
1 vote
Scott Godzyk, Agent, Manchester, NH
Wed Jul 23, 2014
Each bank has their own view of what they will ask, how they set the price and what they will or will not cover for fees. Reasonable banks include the assessments or back hoa. Not all are reasonable and do what is easier than what is right to get them more money in the end,.
0 votes
Vin Baker, Home Buyer, Chicago, IL
Wed Jul 23, 2014
Con't, my broker didnt tell me about the back assessments and we are almost at close and 10K back assessments have come up. The seller(bank) wants me to pay 6mos worth($4k). My purchase price is currently $65K. Do you think they will pay the entire $10K and up the purchase price to $69k? I'd rather do that and my lender has already agreed to finance the higher price.
0 votes
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