All Forum Posts by: Aira Alcantara

We recently purchased our first home in August. There were village repairs that needed to be done to our home in which the seller put money in escrow to cover the cost. We used the contractor that was working with the seller in hopes that he can get things done in a timely fashion. Long story short, we had to get our deposit back from the seller's contractor as he was not as transparent as we wanted him to be. He claimed to have applied for permits the day he got our deposit (in September) and come to find out he did not apply for permits until 10/09/2020. Our deadline to get things done was 10/27/20.

After calling several contractors, some who were licensed through the village, and some who were in the city, we found a contractor who came as close to the seller's contractor's bid. I am concerned if we would be responsible for the overage of $1200. Will the seller have to add more money into escrow? What are our options?

We recently purchased our first home in August. There were village repairs that needed to be done to our home in which the seller put money in escrow to cover the cost. We used the contractor that was working with the seller in hopes that he can get things done in a timely fashion. Long story short, we had to get our deposit back from the seller's contractor as he was not as transparent as we wanted him to be. He claimed to have applied for permits the day he got our deposit (in September) and come to find out he did not apply for permits until 10/09/2020. Our deadline to get things done was 10/27/20.

After calling several contractors, some who were licensed through the village, and some who were in the city, we found a contractor who came as close to the seller's contractor's bid. I am concerned if we would be responsible for the overage of $1200. Will the seller have to add more money into escrow? What are our options?

Hi All!

My spouse and I are first-time homebuyers here. We have recently placed an offer on a property for $219K. We offered full price with the seller covering 3% of the closing cost. The seller's agent reached out to us saying they have received multiple offers after today's virtual open house. They are requesting the highest and best offer. Offering $3k -$5k more would be a $50 - $60 difference in our monthly mortgage (including taxes.ins). If we do offer up we would like to have the seller to cover the closing cost. I would appreciate your insight on the best possible offer I can make for this property. I have to give an offer by 9a tomorrow.