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POLL: Homeowners, how much did you have in the bank after closing?
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RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
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Re: POLL: Homeowners, how much did you have in the bank after closing?
Posted by sometimesmommy
Posted by RocPin
Posted by micknjohn
Posted by RocPin
Because of this market we lucked out and the sellers agreed to pay all of our closing. The house is in near perfect condition so we will not need to put any money into it other than some new furnishings.
We also plan on putting the $7500 tax credit in our savings account for our emergency fund. I think in this shaky economy its very risky to not have at least 3 months in your savings.
Wow..how did you get the seller to pay your closing costs? did you negotiate that after they accepted your offer?
We wrote it in the offer that we wanted them to pay it. They came back saying they would pay $5k of it and we went back firm asking for all of it again so they agreed.
I was told by my realtor and my mortgage broker that in this market buyers should not have to pay their closing costs. The only exception I would have made was if it was a bank owned property that I was getting a great deal on.
I live in VA but I don't really think that should make a difference.
It might make a difference since closing costs vary by state as do house prices so in NY a seller may not be willing to pay 17K in closing costs.
This is true. Our closing costs were only about $7500
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Posted 1/22/09 3:18 PM  |
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micknjohn
LIF Infant
Member since 7/08 333 total posts
Name:
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Re: POLL: Homeowners, how much did you have in the bank after closing?
Posted by RocPin
Posted by micknjohn
Posted by RocPin
Because of this market we lucked out and the sellers agreed to pay all of our closing. The house is in near perfect condition so we will not need to put any money into it other than some new furnishings.
We also plan on putting the $7500 tax credit in our savings account for our emergency fund. I think in this shaky economy its very risky to not have at least 3 months in your savings.
Wow..how did you get the seller to pay your closing costs? did you negotiate that after they accepted your offer?
We wrote it in the offer that we wanted them to pay it. They came back saying they would pay $5k of it and we went back firm asking for all of it again so they agreed.
I was told by my realtor and my mortgage broker that in this market buyers should not have to pay their closing costs. The only exception I would have made was if it was a bank owned property that I was getting a great deal on.
I live in VA but I don't really think that should make a difference.
WOW thanks for the tip...when we find something I'm going to try to negotiate the same!
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| Posted 1/23/09 9:53 AM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: POLL: Homeowners, how much did you have in the bank after closing?
A month after we closed, I lost my job. I was given a severance (small, but something) and I had bonus checks that came in as well. We had to put a hault on some of the work we were doing until I got a new job.
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| Posted 1/23/09 12:17 PM |
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| Pages: 1 [2] |
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