Rates Up

How the higher interest affects your buyers purchase.

Rates Up & the Power of Seller Paid Closing Costs

Hello, happy Friday. I just want to remind you that rates have come up some this past week. So if you have a buyer looking at a house this weekend whose price is right on edge, it’s important to double-check with the loan officer on the file that they still qualify for the house’s purchase price. 

Another thing, too, is to remember the power of seller-paid closing costs. And this is both, I think, for realtors to remember when putting in an offer when writing a proposal that $10,000 In seller-paid closing costs will have four times the financial impact on your buyer than if you were to reduce the purchase price by $10,000. And similarly, on the listing side, if you receive an offer with the seller paying closing costs, it doesn’t necessarily mean that the buyer is weak or doesn’t have the money. It could mean they’re simply trying to be strategic with their money. So just a reminder there, reach out with any questions.