Thursday, May 04, 2006

Seattle - Tacoma, WA Real Estate

Welcome to the Seattle - Tacoma WA Real Estate Blog. This Blog is hosted by Trevor Smith, a full service John L Scott Real Estate Agent in the Seattle - Tacoma area. I am very interested to hear the opinion of people regarding discount real estate agents and brokerages. I am a discount agent who lists homes for 4% commission (www.4percentrealestate.net). Have you had good experiences? Bad experiences? Agents: I am particularly interested to hear your opinion on the subject.

2 comments:

Molly Kater said...

Could you explain how it works when the seller "gifts" the buyer the down payment or the closing costs? thanks

4 Percent Realtor said...

Molly,

What you can do when you purchase a home is build the closing costs in the purchase price. This is where you add your closing costs to the amount you want to offer, and then the seller pays for those closing costs. No one is out any money and the buyer can come in with less cash.

On FHA loans you can also have the seller gift you your down payment. This is known as the "Nehemiah" program. Contact your lender for more info regarding this program.

Thanks for your questions molly!