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Updated over 1 year ago,

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Kevin Arias
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In escrow Los Angeles home bad or good deal?

Kevin Arias
Posted

Hello I’m a first time home buyer. Here is my current deal:

749k listed price on Zillow

Offered $820,000k 30yr conventional loan at 5% down. 7.01 interest rate

NAF cash all cash loan 1.6 on top of purchase price. I would buy back from NAF LLC. Pay a per diem daily rate ($179) until close of escrow.

All in cash offer $833,120 

Inspections done: needs plumbing, roof, electrical, and foundation work. 

Decided to walk, seller countered with 50k in repairs from escrow account funds. Making their sale equity 770k. 

Loan company offered a 1-0 buy down as well because we decided to walk. 

Thoughts on this deal? 

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