Positive Escrows

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Positive Escrows / Contract Candy

You may be surprised to find an extra $2,000 or so that you didn’t know you had. When taxes and insurance are included in a mortgage payment, those amounts are set aside in escrow for payment when due. Sometimes, the escrow account runs a positive balance that, over years, can accumulate to several thousand dollars. Check your own escrow balance, and “assume all positive escrows” when buying.

When writing an offer to purchase a property, you may want to consider asking for the Seller's Escrow balance at settlement. " It is understood and agreed that the Seller's positive escrow will be assigned to the Buyer upon pay off of existing mortgage." 

• This is considered as a buyer incentive or as I called it  Contract Candy,  other incentives you can put in your contract offer;
• Seller transfer the 1980 Ford Truck in the garage
• To contribute $5,000 at settlement
• To leave all furniture in the house (a list of items attached)
• To give Buyer a Home Warranty

Anything you can negotiate while making your offer is a benefit to you immediately especially if you decide to sell the property. 

AD: For sale, rancher, 123 Main St, 3 BR, 2 Bath, sale includes all furniture, 1980 Ford Truck and a home warranty. Call Lucky 555-555-5555.