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Bronko · 01-05-2007, 11:14 AM

One of the ways around the Land Bank fee may be for the Buyers to negotiate the fee from the Seller prior to closing. It could be effective in the current RE market which as we all know is still pretty sluggish.

ie:

Asking price $550,000.00

Parties Negotiate to $530,000.00
(MV Land Bank fee on this figure would be $10,600)

Agree to a price of $540,600 and have Seller give buyer a $10,600 closing cost credit.

This is an example of course with no downpayment etc. factored in. But there are a few creative ways to alleviate or reduce fees in situations like this

01-05-2007, 11:14 AM	#51
Bronko Registered User iTrader: (0) Join Date: May 2004 Location: South of Boston Posts: 2,605	One of the ways around the Land Bank fee may be for the Buyers to negotiate the fee from the Seller prior to closing. It could be effective in the current RE market which as we all know is still pretty sluggish. ie: Asking price $550,000.00 Parties Negotiate to $530,000.00 (MV Land Bank fee on this figure would be $10,600) Agree to a price of $540,600 and have Seller give buyer a $10,600 closing cost credit. This is an example of course with no downpayment etc. factored in. But there are a few creative ways to alleviate or reduce fees in situations like this
	The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope. ~John Buchan