Agent Refusing to Apply Credits to Purchase Price

[Christian Harris]

All parties have agreed to this deal -- paperwork is signed. Seller is crediting buyer a larger amount than the buyer's closing cost. So the rest goes to lower the purchase price, right? Nope. Seller's agent is refusing any reduction in the purchase price because she doesn't want the comps lowered in her area.

How would you advise the buyer? Does the seller's agent have any leverage here?

[Robert Reynolds]

Your credit can’t be more than your closing costs. You can look into increasing your closing costs by buying down your loan possibly. Ask your lender if you can buy it down. Your agent should have caught that earlier, hopefully it’s not to late.