Seller Assist vs Just Offering Less

**KenF** · 02-11-2012, 05:13 PM

Hello, all. If I may borrow your attention for just a minute or two, I have a scenario and question.

There is a house located across the street from my wife's mother. We live in a small twin home and quite frankly, the house for sale would be outside of my comfortable range. I have very little equity in my current home, but my wife's mother has offered an "advance" on my wife's inheritance which would allow us to purchase it with 100% cash. Of course using someone else's money comes with a caveat.. Her mother's attorney is insisting we not use an buying agent but let him perform the transaction. He has specialized in real estate but is now 80 years old. He is still sharp but he focused primarily on commercial property sales.

We are ready to submit our offer and he is adamant about asking for a 3% seller assist. How is this financially beneficial or different than submitting an offer for 3% less? For the sake of a simple example:

Offer $100K, seller gives back $3,000
or
Offer $97K right from the start (with no assist)

He says we come out ahead doing the former. Am I missing something?

**Greg** · 02-12-2012, 06:01 AM

Never ask for help if you do not need it in an offer. The best offer is always the cleanest. It does not make any sense to ask for money back if you have cash and it will confuse the seller and make them suspicious.

You DO want to make sure you have contingencies to get out of the contract if the home inspection or termite inspection turns up problems you don't want to deal with.

**KenF** · 02-13-2012, 04:24 PM

Originally Posted by Greg

Never ask for help if you do not need it in an offer. The best offer is always the cleanest. It does not make any sense to ask for money back if you have cash and it will confuse the seller and make them suspicious.

You DO want to make sure you have contingencies to get out of the contract if the home inspection or termite inspection turns up problems you don't want to deal with.

Appreciate the input, Greg, thanks. I share your sentiments.