It has been quite some time since I've been on the selling side of a residential (non-commercial) real estate transaction.
DW enjoys watching the various real estate programs where folks are buying their dream homes, or their first homes. Watching these with her I've noticed a practice of offering a purchase price "minus closing costs", as opposed to just offering a lower purchase price.
DW and I are now in the process of selling our home, and I haven't seen the offer yet, but my understanding is that it will be in this form. The offer is for the asking price, but seller is to pay closing costs up to a certain maximum amount.
What are the advantages and disadvantages to this approach?
DW enjoys watching the various real estate programs where folks are buying their dream homes, or their first homes. Watching these with her I've noticed a practice of offering a purchase price "minus closing costs", as opposed to just offering a lower purchase price.
DW and I are now in the process of selling our home, and I haven't seen the offer yet, but my understanding is that it will be in this form. The offer is for the asking price, but seller is to pay closing costs up to a certain maximum amount.
What are the advantages and disadvantages to this approach?