There may
be times when, as part of your offer, you request the seller to pay all or
a portion of your closing costs, or provide some other financial
incentive. One common request is asking the seller to provide funds to
temporarily buy down your interest rate for the first year or two. Such
incentives can be especially effective if a buyer is tight on money or
pushing their qualifying ratios to the limit.
Whenever
you ask for incentives such as these, you will probably find the seller
less willing to negotiate on price. After all, what you are really asking
for is to have the seller to give you some money to help you buy their
house. The end result is that, for a little relief in the beginning, you
are willing to pay a little more in the long run.
