Purchase Price and Deposits
Purchase price, deposits and seller assist link to the buyer’s settlement costs. It is to the buyer’s advantage to pay the least amount possible for a property. Deposits for the buyer are a credit to the settlement costs. Seller assist is the amount the seller will contribute, from the seller’s proceeds, to the buyer settlement costs. Price is always the first item the seller will want to know. Line 3, paragraph 2 shows followed by the deposit amount. “Deposits” known as “down payments”, “down money” or “earnest money” that accompanies the agreement when given to the seller’s agent. Buyers want the deposit as small as possible and the sellers want the more assurance the buyer is serious since the Buyers could lose the deposit in default. I advise the buyers to offer the least deposit amount initially and then a sizable amount after the inspections. This, of course, works only with market favoring the buyer, whether there are other buyers interested in the property and urgency of the buyers. Everything in the agreement is negotiable including the amount of deposit. I have used the deposit amount as a pawn for negotiating price or other items important to the buyer.
Return From Purchase Price To Part 1
Enjoy this page? Please pay it forward. Here's how...
Would you prefer to share this page with others by linking to it?
- Click on the HTML link code below.
- Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment,
your Facebook account, or anywhere that someone would find this page valuable.
|