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«
Back: Have
the house
inspected
« »
Next: Negotiate
new terms
» If you put down an Option Fee when you signed
the contract, you have three choices: (2) Or, you can negotiate with the owner to
see which items the owner is willing to remedy.
Or see if the owner is willing to drop the price
of the house a bit. (We'll cover these kinds of
negotiations on the next page.) (3) Or, you could accept the house as-is if
the problems found on the inspection were minor,
or if you enjoy fixing things yourself. If you didn't put down an Option Fee, and you
wrote into the contract that the seller has to fix
problems that were found: If you didn't put down an Option Fee, and you
didn't write into the contract that the seller has
to fix anything: Note that if there are significant problems with
the house (e.g., foundation, plumbing) your bank
might not be willing to go through with the loan
unless someone (you or the seller) puts the repair
money into escrow to ensure that the repairs will
be performed. . Amount spent so
far.
Red
items apply towards the purchase.
Amounts are typical, not exact. $40 Credit Check To the Lender $150 Option
Fee Paid to the Seller.
Might apply
towards purchase, depending on
contract. Allows you to walk away for
any reason. $1000 Earnest
Money Held in Escrow, probably by the
Title company $400 Inspection To private inspection company to
find physical problems with house $100 Termite inspection To private company; required by your
lender ($700) Termite treament (If necessary) $1690 - $2390 Total «
Back: Have
the house
inspected
« »
Next: Negotiate
new terms
» |
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If you liked this site then you might like some of my other sites:
How to Find Cheap Airfare
How to Save Electricity
How to get listed & ranked well in Google
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