Asked by Vg, Alameda County, CA • Mon Nov 5, 2007
We are purchasing a home in Alameda County, CA. The negotiated price is 545K. We have agreed that the seller pays 5K towards closing. My agent has *verbally* agreed to putting 0.5% of price of the home towards closing as well. The agent says she will put this 0.5% payment to me in writing as part of an addendum. Is she playing me?? I thought addendums were only agreements between the buyer and seller. How do I make sure she is committed to paying me the 0.5% at closing?
The concern that I have is that my closing cost might not exceed 6.0 K (5000 0.5%*550K). Do I stand to lose money by structuring the deal this way?
How do I structure the deal so that I don't end up paying unneccesary taxes or lose money in the transaction?
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