Sharon A. Capan, Realtor ®

Licensed to Practice Real Estate in Pennsylvania 

962 Beaver Grade Road, Moon Township, PA 15108

412-269-1400 - Office  ---  412-269-1861 Ext. 232 - Voice Mail  ---  412-859-3245 - Residence

 

Financial Considerations When Writing The Offers

It is standard practice to make a purchase offer contingent upon obtaining a mortgage. Because of this contingency, the seller will want the details of your financing plan included in the offer.

Down Payment
In the purchase offer, we will include the down payment amount you will apply toward the purchase. This will give the seller further evidence of your qualifications to secure a mortgage.

Interest Rate
Within the purchase offer, we will provide a safeguard against any dramatic change in interest rates between when the offer is made and when the loan is closed. The offer will not only be contingent upon qualifying for a mortgage, it will also be contingent upon an interest rate within a certain range.

Seller Assistance
If the house you select is at the top-end of your budget range, we may want to include a request for seller assistance to pay a portion of the closing costs traditionally paid by the buyer or to help "buy-down" your interest rate. Other seller assistance may include having the seller "carry back" a second mortgage to cover your down payment or even 100% seller financing.

With any of these seller assistance options, you can expect to pay a higher purchase price than if you had handled the financing through a traditional mortgage lender.

 

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"The Pennsylvania Real Estate Law requires that I provide you with a written Consumer Notice that describes the various business relationship choices that you may have with the real estate licensee.  Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information that you give me at this time is not considered to be confidential unless and until you and I enter into a business relationship.  At our first meeting, I will provide you with a Consumer Notice which explains those business relationships and my responding duties."

Disclaimer:  All information and/or links at this Web site are deemed reliable but not guaranteed. They are for general information purposes only.  It is the sole responsibility of any person viewing these pages to verify by outside means the accuracy of the information prior to taking any action based on the content of this Web site and any Web site linked to it. All of the information provided here, while considered reliable, is not guaranteed by RE/MAX Renaissance Realty West.  Independent verification is always recommended. When in doubt, consult your real estate attorney, mortgage loan officer, and accountant.