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All Forum Posts by: AJ Cerbo

AJ Cerbo has started 7 posts and replied 12 times.

Post: Closing Cost Refunds

AJ CerboPosted
  • Posts 16
  • Votes 8

Hey everyone -

I'm in the process of purchasing a home previously owned by opendoor. The selling price is $410,000 and they're willing to max out 3% of the home value for seller concessions ($12,300), but they are refusing instead to take $12,300 off the home price and give $0 in seller concessions. Any reason on why they would do this?

Also, my total closing costs are about $12,200, but I've already gone ahead and paid $550 for the appraisal and to lock in my rate with the mortgage company. Is there anyway to get refunded on that so that the seller's concessions can cover it? The mortgage company I'm using is better.com

Thanks!

Quote from @Michael Baum:

Man! Everyone is on the ball tonight!

There is no real need for the LLC if you have correct STR insurance and an umbrella. Keep up on the maintenance of the property and you should be good to go.


Can you elaborate a little more on what the correct STR insurance / umbrella would be and how they would protect you compared to an LLC?