Looking to the Lender It’s common for Buyers — especially first-time Buyers, at lower price points — to include seller-paid closing costs as part of their offer. So, instead of offering $200k for a home, the Buyer may offer $206k less $6k in seller-paid’s. See, “Maximum Seller Contribution: Not Just 3% Anymore.” To the Seller,...Read More
Of Apples and Houses One of the trickier concepts in residential real estate — especially for first-time home buyers — is seller-paid points. Think of it like this: if you buy an apple from me, is there a difference between paying me 97¢, or paying $1 and getting back 3¢? Not to me — either way,...Read More
Omitting Seller-Paid Points Want to know why many real estate Web sites — never good at estimating home prices — are off by at least another 3% now? Because Seller-paid points are a fixture of many house deals these days, yet the government data that many real estate sites rely on don’t report that. Instead, Hennepin County and...Read More
