While it is true that offers at or above full price are more likely to be accepted by the seller, there are other considerations involved. If so, such an offer, even at full price, may not be as attractive as an offer without that condition. If so, then an offer at less than the asking price may be more attractive to the seller than a full-price offer with a financing contingency. A deposit could be forfeited by the buyers under certain circumstances, such as the buyers backing out for a reason not provided for in the contract. The purchase contract must include the sellers responsibilities such things as passing clear title, maintaining the property in its present condition until closing and making any agreed upon repairs to the property.
Closing costs vary from one transaction to another and often total in the thousands of dollars.
They may be paid up front or added to the buyer's loan balance. However, anxious sellers may offer to pay some or all of the costs to induce a sale. In recent years, buyers have paid for agent services in some cases. Roof inspection report - buyer usually picks inspector and pays for inspection. There are also loan fees, which can exceed 2 percent of the loan amount.