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Updated over 16 years ago on . Most recent reply

User Stats

619
Posts
75
Votes
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
75
Votes |
619
Posts

Negotiating after the contract is signed.

Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Posted

Ok, so i have my contract assigned, and my end buyer has now stated that she was unaware that she had to pay all closing costs, which she was, however I assumed she knew. She said she is not paying more than half of the transfer taxes and always splits them with the seller. and she does have a way to get out of the contract.

My question is should I offer to pay half to make sure the deal goes through, tell her no and see what she says/does. I had several other people that are interested and am only into day 3 of my 45 business day contract with the sellers, should I just market to them?

How are your deals normally structured, do the end buyers always pay all of closing costs or do you sometimes structure it differently.

If i pay half the transfer taxes I am probably looking at about 1700-2000 dollars.....

I also don't want to have no buyers, and end up with no assignment fees.

The only thing I have been able to come up with is that if I give up 1800k in transfer taxes, I should have her renegotiate the assignment contract so that I get a 2k deposit (thus voiding the 1k deposit she already gave) and have her sign an new assignment contract with no financing clauses. My only question if I did this is how do I void the old assignment contract that I forwarded to the title company.

What would you all do?

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