Ok I putting an offer and the seller only wants to pay 3% for closing costs. so since i have to put 4% down i would like to add 3% to the purchase price so i can cover the other half of the closing costs. How can I write that in the contract. I just got my license and this is my first house and my fist contract any help will be really appreciated the house is a short sale.

Thx
Rockie2010

You need to talk to your broker that is what your split is for.

If it is a short sale what costs will be covered will be up to THE BANK.Even though they don't own the property just the paper they will be taking the loss.So they will be approving the net proceeds to them after approved costs taken out of the sales price.

The property also has to appraise among a 100 other things.

Please call your broker.

Thanks............................

Thank you for your help but my Brokerage is 100% commission with no support :-(

I own a 100 percent brokerage.They are still responsible for your actions when you need help.

Find another agent in your office with experience and pay a small referral fee for walking you through the deal and helping to closing.

Better to get a paycheck of something than 100% of nothing because you messed up the deal and opened yourself up to litigation.

Good luck

I agree, find an experienced agent and have them assist you. It is better to get a percentage of something and have a job well dne than a percentageof nothing and have ruined theentire deal for your client. Money is not everything.

Jeremy Moore,
Sales Representative
CENTURY 21 United Realty Inc. Brokerage*
Direct 705-931-0893
Office 705-743-4444
Email: jeremy.moore@century21.ca
Web: www.jeremy-moore.com
http://www.century21.ca/jeremy.moore
*Independently owned and operated. Not intended to solicit those currently under contact.

Maybe I'm missing something here, but it seems like you would simply add 3% to the purchase price and then ask for 6% closing costs. As long as the seller nets the same, they will probably agree.

Be careful that this is acceptable to the buyer's lender, and if it is a short sale then this will not be allowed.

"I just got my license and this is my first house and my fist contract any help will be really appreciated the house is a (short sale)."

[quote=super realtor]I own a 100 percent brokerage.They are still responsible for your actions when you need help.

Find another agent in your office with experience and pay a small referral fee for walking you through the deal and helping to closing.

Better to get a paycheck of something than 100% of nothing because you messed up the deal and opened yourself up to litigation.

Good luck [/quote]

Good answer!

ouch...your broker should be ashamed. Having an office that offers no support is fine if the agents are all experienced. He should not hire those who need training and then let them flounder. What a cad.