Jason and Angel had their initial buyer consultation with Paul and Katie at the end of December. One week later, they went on their first home tour with Paul at 12pm. They decided to write an offer right then and there. Paul drove home, drew up the offer, sent it for signatures, and four hours later they were IN CONTRACT!!
Paul and Katie led Jason and Angel through a smooth escrow and they were given keys less than a month later. When you buy a home, in addition to your downpayment, there are also closing costs, which consist of lender fees, title/escrow Fees, taxes, and other miscellaneous costs. A "credit" towards closing costs will go toward paying these costs and fees.
Jason and Angel intended to offer 655k on 4024 Suter Ave in Oakland. Instead of offering right at 655k, they offered 10k higher and requested a 10k credit towards closing costs from the seller. Essentially, this makes their loan amount a bit higher, but it allows them to conserve an extra $10,000 in cash so they can immediately make upgrades to their new home.
The sellers did not provide their own home and inspections, so Jason and Angel wrote their offer with an inspection contingency that allowed them to procure their own reports. We were then able to negotiate an additional 3,500 credit, bringing the total credits towards closing cost to $13,500.
After Jason and Angel received keysm they immediately cleared the Section 1 of the pest report. Then, they painted the full interior of the home. By the time they moved in, they had already increased their home’s value with the upgrades they made!