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House buying questions - paybacksare - 02-10-2006

I'm confused about the whole "closing" process in terms of money.

How should I negotiate closing costs? Is it usual for me to make an offer that includes the owner paying any closing costs?

Also, is it usual custom for the realtor to give you money back from her commission? Wahoo has two friends who got like, $7K from their realtor, and he was telling me that realtors will often pay your closing, or give you a "gift" from their commission.

We might have made a decision by next week, and I have no idea what to expect next.

House buying questions - what? - 02-10-2006

you'd be better off letting men-folk handle this type of thing, sugar. run off and make daddy some dinner, m'kay?

House buying questions - CT280 - 02-10-2006

paybacksare Wrote:I'm confused about the whole "closing" process in terms of money.

How should I negotiate closing costs? Is it usual for me to make an offer that includes the owner paying any closing costs? it's usual and common for the seller to pay if a purchase contract is done right

Also, is it usual custom for the realtor to give you money back from her commission? Wahoo has two friends who got like, $7K from their realtor, and he was telling me that realtors will often pay your closing, or give you a "gift" from their commission. illegal in most states, take it if you can get it.

We might have made a decision by next week, and I have no idea what to expect next.

can i see your ass again?

House buying questions - Banana - 02-10-2006

paybacksare Wrote:I'm confused about the whole "closing" process in terms of money.

How should I negotiate closing costs? Is it usual for me to make an offer that includes the owner paying any closing costs?

Also, is it usual custom for the realtor to give you money back from her commission? Wahoo has two friends who got like, $7K from their realtor, and he was telling me that realtors will often pay your closing, or give you a "gift" from their commission.

We might have made a decision by next week, and I have no idea what to expect next.
:lool: I have never heard of a Realtor offering a part of their commssion as a gift. But, then again, I live in Canada Huh
What size bra do you wear?

House buying questions - CT280 - 02-10-2006

Banana Wrote::lool: I have never heard of a Realtor offering a part of their commssion as a gift. But, then again, I live in Canada Huh
What size bra do you wear?

34a. strapless.

House buying questions - Dr. Lecter - 02-11-2006

paybacksare Wrote:I'm confused about the whole "closing" process in terms of money.

How should I negotiate closing costs? Is it usual for me to make an offer that includes the owner paying any closing costs?

Also, is it usual custom for the realtor to give you money back from her commission? Wahoo has two friends who got like, $7K from their realtor, and he was telling me that realtors will often pay your closing, or give you a "gift" from their commission.

We might have made a decision by next week, and I have no idea what to expect next.
Your "closing" costs will be determined in part from the amount of pre-paid interest you are paying up front on your mortgage.
You can get a mortgage with a lower rate, but possibly higher "closing" costs because you may be paying 'points' on your mortgage to reduce the rate. Less points, and therefore, lower closing costs will likely result in a higher mortgage rate.
Too, you will be paying the mortgage holder's attorney a % and the seller's attorney a % as well as possibly paying your lawyer a fee.
If you'd like to know more about the details of a closing, you can PM me. Or if you just want to get rated for a mortgage. I work for a direct lending bank, not a mortgage broker. You want to avoid brokers, because you will likely pay higher closing costs with brokers.

House buying questions - CT280 - 02-12-2006

Dr. Lecter Wrote:Your "closing" costs will be determined in part from the amount of pre-paid interest you are paying up front on your mortgage.
You can get a mortgage with a lower rate, but possibly higher "closing" costs because you may be paying 'points' on your mortgage to reduce the rate. Less points, and therefore, lower closing costs will likely result in a higher mortgage rate.
Too, you will be paying the mortgage holder's attorney a % and the seller's attorney a % as well as possibly paying your lawyer a fee.
If you'd like to know more about the details of a closing, you can PM me. Or if you just want to get rated for a mortgage. I work for a direct lending bank, not a mortgage broker. You want to avoid brokers, because you will likely pay higher closing costs with brokers.

this is why amatuers should stay out of the business.

House buying questions - Dr. Lecter - 02-12-2006

CT280 Wrote:this is why amatuers should stay out of the business.
Good one, however I'm not the one who had to move to bumfuck upstate NY because I couldn't hack it in a major metro area. How's that 129k house? You must be proud.

House buying questions - BIRD33 - 02-12-2006

meow.

House buying questions - Dr. Lecter - 02-12-2006

BIRD33 Wrote:meow.
What can I say- he struck a nerve. I haven't melted in a while, I wanted to feel it again.

House buying questions - Anhil8tor - 02-12-2006

All we got from our guy was a $100 gift certificate to a nice restaurant. We were buyin too.

House buying questions - CT280 - 02-12-2006

Dr. Lecter Wrote:Good one, however I'm not the one who had to move to bumfuck upstate NY because I couldn't hack it in a major metro area. How's that 129k house? You must be proud.

sweet. nice melt, dude. actually, i do pretty well in upstate. i still kill in the market downstate from here, on 1/3 the business overhead. when you get a half of an idea what you are doing in the field, give me a call. make sure the direct lender you work for now trains you a little better than they have, because i don't have the time. training wheels slow me down. :loool:

House buying questions - Dr. Lecter - 02-12-2006

CT280 Wrote:sweet. nice melt, dude. actually, i do pretty well in upstate. i still kill in the market downstate from here, on 1/3 the business overhead. when you get a half of an idea what you are doing in the field, give me a call. make sure the direct lender you work for now trains you a little better than they have, because i don't have the time. training wheels slow me down. :loool:
Who the fuck are you calling a wheel? How dare you.

House buying questions - CT280 - 02-12-2006

i said "wheels". keep up dude.

House buying questions - Dr. Lecter - 02-12-2006

CT280 Wrote:i said "wheels". keep up dude.
Either it was not too funny, or you didn't get it. I'll vote #2.

House buying questions - Banana - 02-12-2006

:mellow: Good thing the PIN idea fell flat on it's face. You two might have mailed nasty things.

House buying questions - CT280 - 02-12-2006

Dr. Lecter Wrote:Either it was not too funny, or you didn't get it. I'll vote #2.

i must not have gotten it.

banana Wrote::mellow: Good thing the PIN idea fell flat on it's face. You two might have mailed nasty things.

where is that thing, anyway?

House buying questions - PurpleHaze - 02-13-2006

CT280 Wrote:where is that thing, anyway?

The Afro-American beater has it.

House buying questions - paybacksare - 02-13-2006

Who is Dr. Lecter these days? I would like to PM them and get some more info and advice...but I have no idea who might be using this nic?

House buying questions - Raiden - 02-13-2006

You're all fucking amateurs.
I just closed last week on the house next door to my girlfriend's. No realtorbitch involved, we agreed on $305K, then bumped it up to $310 so she could kick down $5K for my closing costs. I put down a $2K deposit, my closing costs were $3K, I got my $2K back. It hasn't cost me a dime yet, but the cashflow is gonna be in the red by $1K every month. Tha's cool tho, it's part of my ticket to a cabin in Tahoe, motherbitches.