Gregg and Lisa Whitney know that buying and selling La Jolla, California Real Estate often includes nonrecurring closing costs, which are one-time costs such as transfer taxes, title insurance, and points (a point meaning one percent of the purchase price used to offset interest or as a loan organization fee).

Their partnership, also known as Whitney and Associates, has a proven, long-term track record of successful real estate sales in the La Jolla, California Real Estate Market. Gregg and Lisa Whitney believe Clients should be educated about their options in regard to credits for nonrecurring closing costs and have provided this information so Buyers and Sellers can make the best choice for them.
Often times the Seller can be persuaded to give a credit towards some or all of these one time fees, especially since lenders will not allow anyone to help the Buyer with the down payment. Gregg and Lisa Whitney want you to know that most things are negotiable and covering some of these fees can help you save thousands.

Perhaps you fall in love with a beautiful home here in La Jolla, California and the asking price is $4,000,000. You might put an offer on this home with $100,000 credit at closing. The home will, of course, need to be appraised at this higher amount for this to work, but this cash at closing is typically used to help with some of the closing costs, or for things such as renovations. Often times in a Buyer’s market, Sellers and lenders will offer this credit at closing as an incentive, however, the price of the home will then usually be raised to cover these costs.

The amount of credit that can be offered varies among different lenders; however three to six percent of the purchase price is typical. For instance, if Whitney and Associates is helping you purchase a $4,500,000 home, then at three percent the Seller or lender can offer $135,000 towards nonrecurring closing costs. Some lenders will even pay all closing costs, but always remember that this money is still coming from somewhere. Therefore, instead of paying a higher interest rate or financing at a higher price, sometimes it is better to make the best deal and pay all of your own costs.

At Whitney and Associates, we are the right choice for the Buying or Selling of a home in La, Jolla, California.

Have any questions or like to learn more? Use our handy form on the side of the page to contact Gregg and Lisa Whitney. You will see that we only require your email address. Gregg and Lisa Whitney understand that your privacy is important to you and we respect that. We do not share your information with anyone without your permission.

Gregg and Lisa Whitney realize that you are probably in the information gathering stage of your process, and we want to provide assistance to you in any of your La Jolla, California Real Estate needs. If you would like to talk to Gregg or Lisa Whitney in person, feel free to call Whitney and Associates at our main line at 858-456-3282.

When you are ready to invest in the real estate market let us help you. After all, we are the experts in La Jolla, California Real Estate.