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How can you finance the purchase of a home but have the seller give back to you about 10 percent of the purchase price for repairs?
Wiki User
∙ 18y ago
The SELLER won't give back anything. You'll have to finance the home for 10% MORE than the asking price to get back what you need. If the value of the house isn't there, the bank probably won't finance it. You may have to work with someone who understands what you're doing and is willing to finance for over the current value.
Wiki User
∙ 18y ago
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What is the definition of an as is residential real estate purchase in North Carolina?
You accept the property in the condition it is in at the time of the purchase. The seller makes no warranties and you can't make any claims against the seller to make repairs.
When does a buyer extort money from seller for repairs?
Extorting money from anyone sounds slightly criminal. When a buyer knows, from a reputable inspector, for example, that repairs are required to a property, the buyer can request that the seller consider that expense in the sale price. Neither the buyer nor the seller is obligated to move forward with the purchase if no agreement can be reached over repairs.
What can I do the private seller lied and said the car ran great but it needs a lot of repairs?
Did you not test drive it? You should have had it inspected by a mechanic prior to purchase.
If you purchase a home for 60000 and the seller pay 6 percent your closing how much do you have to come up with?
600
Is a purchase order a buyer or a seller?
A purchase order is issued from a buyer to a seller.
How do you negotiate the price of a house?
1. Get sales pricing on comparable house sales in the same area. 2. Get a home inspection and provide seller with costs for repairs (materials + labor) to negotiate seller having repairs done or reducing house price. If you can do repairs you can save labor $. 3. Be prequalified for mortgage so that seller knows you are seriuos.
If I purchase a truck that is for sale by the owner what do I need to make sure I get from the seller besides the title, registration and a bill of sale?
It is very recommended that you obtain a vehicle history report from the seller, and have it inspected before purchase. This informs you of any repairs and damage information that the owner may have not been able to provide and which may be important in the making of your decision.
Should people take advantage of owner financing in today's economy?
For people who wish, for instance, to purchase a new business then "owner financing" can be of benefit. It is difficult to get finance packages from banks at present. Therefore agreeing with the seller to negotiate a finance package directly with them can benefit both you as the buyer, and allow the seller to keep some control of the business.
I am thinking of buying a car from a seller who still has loan payments. How can i be sure i will get the title from him after i pay the finance company?
Go to the bank or finance company and tell them what you are doing. Don't give the seller any money untill you have worked it out with the finance company.
Is it legal for a buyer to request the seller who has offered credit for repairs to have a statement in the final paperwork indicating that the credit is for closing costs NOT repairs?
No how can it be leagel
If buyer and seller agree on price and inspections fail can seller raise price to complete repairs needed?
Yes and the Buyer can also walk.
What are the salient features of Hire Purchase?
Ownership rests with the seller until all the installments have been paid. It is an arrangement between seller and buyer of goods, normally consumer appliances, wherein the buyer agrees to pay the price over a period of time, in agreed installments, along with finance cost.
