ADDENDUM TO PURCHASE AGREEMENT MARYLAND STATE SPECIFIC TERMS Buyer acknowledges that the purchase of the Property may have resulted from a transfer . 0000006558 00000 n Even with the caps in place, the actual rule of thumb is that the seller is only allowed to contribute the lesser of the sum of the closing costs or the seller contribution limit. 0000006798 00000 n 2 0 obj MORE: See how Clever can match you with a local expert. Additionally, If the propertys appraised value turns out to be less than the purchase price, the seller is allowed to contribute 6% of that value. EDi~=rV+*I N}v{CX PDF FHA/VA LOAN ADDENDUM TO REAL ESTATE PURCHASE CONTRACT THIS IS - eForms However, these costs tend to be fairly low and consistent between different companies. In regards to seller contributions, the VA does have some intricate rules. /Length 10 ADDENDUM #_____ BUYER _____ SELLER _____ PROPERTY _____ The following provisions are hereby incorporated in the above Agreement of Sale. - Create your own user profile That amount doesnt even take the closing costs into consideration, which could be anywhere from $5,500 to $13,750, or 2% to 5% of the purchase price of the home. Fortunately, you and your buyer can always negotiate who will pay for certain fees. Thankfully, there's a way to save big by selling with Clever. 0000006302 00000 n " PLEASE TURN OFF YOUR CAPS LOCK. 8 0 obj Seller, at Closing, shall credit, as directed by Buyer, an amount of $ to assist 116 with Buyer's closing costs, (Seller Concession). endstream However, transfer taxes can vary a lot depending on your home value and location. Get a lower rate with a top local agent! /Length 3417 - Submit classified ads EMC 6 0 obj that's usually more expensive than the rest of your closing costs combined! As the home seller, inputting contributions towards the buyers closing fees can help get the property sold faster.