For people reading this old story , don't believe the hype.
If you walk in to a room full of men and ask , who here is a real man? They will all boast and say that they are.
There is a lot of boasting from agents and lenders but they are thinking about them selves. It easy to say , well all you need is $500 and the seller will pay for this or that.
They only paint a picture perfect scenario with no other down sides or give the full scope of things.
The truth is buying a home comes with so many variables. What works for one buyer many not necessarily apply to the next. This is also true for sellers.
What they don't mention is that when sellers pay for expenses, the right conditions have to be in place.Like the type of market it is. Are you in Buyers or Sellers market ?
What these people fail to say , if the conditions are right and it's a buyers maket ,yes you could have leverge.
But what happens when Its a sellers market ??? Inventory is down , the sellers is getting a ton of traffic ,multiple offers, some offers with price increases. Does the seller need to pay for closing cost, hell to the no. You ask for closing cost , the seller will tell you to go pound sand.
What's if it's a sellers market and they need to move out fast, then they might give you a break ,if your lucky.
My point is , real estate is a huge variable you will never know what kind of sale your dealing with until you submit an offer. Providing the agent is verse with market conditions.
Also, putting all expenses aside regardless who pays for what , you need money to buy a house.
You do really think you can get a loan with no money sitting in your checking acct ??
You need to have at least 3 times mortage payments in reserves seasoned in your acct before you can get any loan.
These are the important facts, rather than bosting and leading people into thinking that you can buy a home with zero out pocket. You can get all the concession in the world ,but you need money in the bank ! Smh
Want to put $500 down emd? If i was selling my home and someone offered me that I'd be,real dumb to accept it.
As a seller l am putting my time and my money at high risk of the buyer FAILS at closing.
You better show me you have a vested interest in purchasing my home. Because if your loan gets decline at the final hour , you better believe it's gonna cost you as much as it cost me. Especially after taking my home off the market.
The truth is you can open escrow with $1 !! But as a seller I would be an idiot to a accept that.
If it sounds to good to be true , it is.
Disclosure is the name of the game, get with someone highly experienced that leaves nothing to chance.