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Updated over 1 year ago,
In escrow Los Angeles home bad or good deal?
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?