What's your framework for deciding whether seller concessions should go toward a buydown, closing costs, or reducing the purchase price?
Answered
TVAsked by Travis Verner0
Great question. Every client is different. I go over what a $10K drop in price would do to the payment ($65-70 a month with current rates), vs. using it for a buydown or just standard closing costs. Sometime cash to close is important so we use the credit for closing costs. Anyone that feels like payment is the number one concern, we will always end up doing closing costs. Once under contract, we can then determine if we look at permanent buydown or temporary buydowns. If I have a buyer has the cash/funds and cash to close or payment is not as important, they get the best price they can with no concessions.