A seller's assist allows for the buyer to purchase the property with less than normal costs.
Lets say the house is to be sold at $100,000 and the buyer needs a $3500 downpayment and $6000 in closing costs. That means the buyer needs $9500 in the bank to buy the house.
Howver if he offers $106,000 and a $6000 sellers assist, the seller still nets $100,000 and thew buyer only needs $3500 to bring to closing. Therefore as a seller, being open to offers including a sellers assist you are more likely to attract more buyers.
Cornerstone Lending Inc
720 Second St Pike Suite 104
Southampton Pa 18966
Office 215 953 0800
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