Barb Schlinker The Real Estate Voice

1)     How much money should a buy have saved up to purchase a home?a.      There are down payment assistance programs where a buyer can get a grant for their down payment and purchase with only $1000 out of pocket.  However,  they will still need about $300 for an inspection.b.      For most buyers they will need the following:  Earnest Money Deposit – Typically 1% of the Purchase price but it is Negotiable Money for an Inspection – Typically $300, sometimes $500 if they have to check out a well or sewer scope.Down Payment – could be anywhere from ZERO to 20% down Loan Closing Costs – Those run about 1-2% of the Loan amount These can be negotiated as a part of the loan as a seller expenseBuyers can raise the sales price and have seller pay their closing costs, but really it’s the buyer in the form of a price higher than asking price.Moving Expenses     What does an agent do with regard to NEGOTIATIONS?a. You are an attorney so I know you understand the meaning of Fiduciary.  It means put the needs of their c