How much CASH do buyers need to purchase in today's market?

Dated: May 11 2022

Views: 49

💲Down Payment + ⏳Closing Cost + 💣Negotiation Leverage
Example:
➜Buyer saves $35,000 cash for purchase
➜Lender approved buyer for a loan with 5% down payment
➜Closing cost average 3% in your state per your title company
➜Your market is extremely competitive and likely to compete with multiple offers. Reserve 3% for negotiation leverage
TOTAL 11% Cash Reserves for Purchase 🏠
$35,000 / 11% = $318,000
We recommend keeping your search criteria under $320,000 purchase price with $35,000 cash for purchase. You should also consult your lender to coordinate your approved purchase amount.
Your agent should be able to negotiate the best possible terms to keep the most money in your pocket. More often than not, these funds are used to win bids and close deals. Having an experienced agent that knows how to advise and negotiate in this seller's market is crucial! Reach out today if you are interested in connecting with an experienced local agent in the Florida Panhandle.
Beach Coast Real Estate 🦩
Flamingo@BeachCoastFlorida.com
m. 850-366-3656

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