Updated almost 11 years ago on . Most recent reply
Help Understanding RE Rhetoric
Hi BP,
I am having trouble reading a listing for a house. It is a 4 bedroom currently in foreclosure. It is currently under the 2% rule but I was hoping I could offer 20% off the asking price to bring it close to 1.5%. The following is what it states on the website:
Cash only offers and can only convey title with a QCD. No title insurance will be issued. ***SPECIAL INCENTIVES: 1) Buyer will receive a purchase credit of either $1,000 or 3% of the final price at time of successful closing (whichever is less). 2) Buyer will receive a $600 home improvement gift card approximately 4-6 weeks after the successful close of the purchase transaction. 3) Buyer's Agent will receive an additional 1% commission based on the winning bid amount at time of successful closing (minimum of $400 additional commission).
My question is 1.) is the bank making these incentives for the buyer or 2.) is this a wholesaled house?
Is this something that you would pursue?