I am a first time home buyer. My Real Estate Agent is also the agent who has the house that I want listed. So therefore, he is acting as a dual agent, but he is on "my side" since he is a buyers agent. This seems to have the seller on edge. Initially, I was going to buy the house for 76k with seller paying up to 3k in closing costs. I am taking out a FHA loan and the appraisal was done after the inspections: house inspection, termite insp, radon testing - all paid by me. The appraisal was also out of my pocket. All in all, I've invested around 1k in prepaids into this house. I am putting 5500 down.
Well, the appraisal came back at 72K. So my RA and seller came to a verbal agreeement of 72K + 1500 credit toward CC. But when seller got the actual contract, she said she will not be paying towards any prepaids. Only closing costs. And she wants me to pay the first 1500 in closing costs and she will make up the difference of up to 1500. My realtor gave her a hard time and she fired him. The owner of the brokerage firm is now her rep.
Read more: Am I being unreasonable with the seller of the house?
