Homes In The OC Blog

With the tightening of loan guidelines, it has become the "in" thing, to request assistance with Buyers nonrecurring closing cost... NRCC's for short and Seller repairs.  While this is well within the Buyers rights and in some cases a must, you should think before you ask.  Ask yourself... Do I really want this house?  What price & terms will be the best for me and the Seller?  If you ask those questions, you'll put your agent in the best position to get your offer accepted.

As prices decline, let's remember that Sellers still want "current market value" for their home.  Declining prices do not always equate to buying at a discount.  If the home is priced right, there may not be any reason to assist a buyer with NRCC's, repair a chipped tile in the kitchen, replace the garage door and replace a broken sprinkler head.

Remember... the home buying / selling process, is a give and take situation.  If you as the Buyer request a 3% credit for NRCC's... which in most cases is the max allowed by lenders... bending a bit on request for repairs, or paying the asking price may be a good bargaining chip to give the Seller.  3% on a $350,000 purchase is over $10,000. 

NOW is a GREAT time to buy a home.  Try to make the  experience a win - win situation for all involved.  As always, you are welcome to comment.  Please contact us with all of your real estate questions.  Have a great Easter weekend!

Kevin