I’ve had FHA pay 3%. I’ve also had them pay other items on their do not pay list, they have asked me to show it as a reimbursement. They still paid my sellers $1000.
The sales price and the bpo came in at the same number.
We have had FHA pay almost 6% closing costs on one this fall, and we had FHA pay 4% on one last fall. The key is to get them their required net, which when the property is appraised before the marketing process we all know that the appraisal will come in high. So use a little outback to get it to come in more realistic! Love you guys, see you in a couple weeks.
Valuable piece of information in this episode. I admit, I did not know about the 1%. Thanks for saving me, my clients, and the industry some headache.
I’ve had FHA pay 3%. I’ve also had them pay other items on their do not pay list, they have asked me to show it as a reimbursement. They still paid my sellers $1000.
The sales price and the bpo came in at the same number.
Great stuff Saul!! Further proof EVERYTHING is negotiable
We have had FHA pay almost 6% closing costs on one this fall, and we had FHA pay 4% on one last fall. The key is to get them their required net, which when the property is appraised before the marketing process we all know that the appraisal will come in high. So use a little outback to get it to come in more realistic! Love you guys, see you in a couple weeks.