Need Help With First Purchase Offer Form

Comments(9)

• 
  kmaples17th November, 2003

  It is all negotiable, but typically the closing costs for the mortgage is paid by the seller. The costs going toward inspections is paid by buyer. Escrow fees are paid by the buyer, but can be split in most cases. Again these are all negotiable. I not sure if your the buyer or seller but just explain to the other party that the total costs will be split. then instruct the title co. And they'll take care of the rest. <IMG SRC="images/forum/smilies/icon_wink.gif"> A little confusing but it will be a whole lot easier once you have completed the process a couple times.
  
  Good Luck <IMG SRC="images/forum/smilies/icon_wink.gif"> [ Edited by kmaples on Date 11/17/2003 ]

• 
  fpd152017th November, 2003

  is it a rental?
  if so closing date on the last day of the month,so that all rental proceeds go to you on the 1st and you dont have to pay for taxes for a partial month and also you have one FULL month free.
  roy

• 
  cmyke17th November, 2003

  If you are dealing with a RE agent ask him about sellers conssesion or if you have financing lined up ask them to put it in your Pre-Qual Letter. its usually 1% to 6%. This will help with closing cost.
  
  ~Hopes this is of help to you~

• 
  Jimbezy17th November, 2003

  Thank you very much for all the help. Just to set some of the facts strait, Im buying the property to Rehab it and sell it. So I want the quickest closing possible. So what should I used for the closing date and possession date? thanks a lot.

• 
  RepoMan17th November, 2003

  The closing date can be any date you choose. 9 out of 10 times you wont close on that date. Hey if you have the title work and the cash, you could put tomorrows date but realistically, it will take some time to do the searches and get both parties to the closing table. I have done closings within a week of signing a contract and as far as 9 months after signing a contract. It is totally up to you, just make sure you do your title searches!!!
  
  Repoman

• 
  blaiklockrr17th November, 2003

  Closing costs is typically negotiable between the buyer and the seller--Normally in California it's 50/50 (down payment could go towards closing if you wish). Closing date could be 30 days from Escrow opening. I hope this helps.

• 
  Jimbezy17th November, 2003

  Thanks a whole lot for the help. I put 30 days (12/17/2003) for closing and possesion dates. And I put the costs as Me "Buyer" paying inspection and escrow costs and the Seller pays for mortgage closing costs.

• 
  jcrnkovic17th November, 2003

  All good advice.
  Here's one more. While the overwhelming majority of people are honest there are a few rats out there.
  
  Just before you go to closing do a final inspection of the property to make sure everything is the way it should be and nothing is missing. Some sellers will take things at the last minute. Verify what is to remain in writing:-o . If there is anything broken or damaged, it should be on the seller's insurance.
  If the property is not OK, get a credit at closing.
  
  Good Luck
  Jim

• 
  Jimbezy17th November, 2003

  Thanks for the advice, but I dont think there is anything for them to take or break. Unless I really wanted to keep the boards over the wondows