It seems they just don’t want to let the market recover… That’s my opinion.
One of the big changes that will come into effect soon will be the limit on the amount of Closing Costs you can ask the Seller to pay. That means if you are a low cash down buyer it will be harder for you to get in.
What they are worried about is the potential for the Seller to “inflate the price” to pick up those costs.
I don’t know how that can happen since the appraisal rules also require an appraiser to stipulate that even though the Seller is paying the closing costs, it has no effect on the value being paid.
Make it a great day.
Ed Favinger, Broker CRS, GRI favinger@rwnetwork.com 916-203-1260
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