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Downpayment Assistance anyone?

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Jill Kinnaird

Thread Starter
Junior Member
Joined
Oct 6, 2005
Professional Status
Certified General Appraiser
State
Ohio
I'm suffering from short, possibly long term, memory loss. Had read a thread, that I can't find, regarding the demise of seller assisted downpayments. Has this type of downpayment gone by the wayside? If so has the 'lack' of seller assitance created what may appear to be a slight decline in sale prices?
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
I'm suffering from short, possibly long term, memory loss. Had read a thread, that I can't find, regarding the demise of seller assisted downpayments. Has this type of downpayment gone by the wayside? If so has the 'lack' of seller assitance created what may appear to be a slight decline in sale prices?
Seller Assist is alive and well - though sometimes it's called a "carpet allowance" or some other bull...
Did you say "slight decline in sale prices?"
The understatement is too funny for words - for our California Cousins
 
Joined
Feb 16, 2003
Professional Status
Licensed Appraiser
State
California
Assistance

Many sellers do not have enough equity to offer assistance. Many do not even have enough to pay sales commissions.

Yes, that may conrtibute to a drop in values, as fewer can buy.

We have a company here in Sacramento that helps with down payments, it is a nonprofit, but certain government sponsored programs tried and failed to quash it.

TN
 

lizhorvath

Member
Joined
Dec 11, 2003
Professional Status
Licensed Appraiser
State
Michigan
Isn't "Seller Assisted Down Payment" sort of an inherent oxymoron?
I mean, who do I make my assisting check out to? Myself?
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Many sellers do not have enough equity to offer assistance. Many do not even have enough to pay sales commissions.

Yes, that may conrtibute to a drop in values, as fewer can buy.

We have a company here in Sacramento that helps with down payments, it is a nonprofit, but certain government sponsored programs tried and failed to quash it.

TN
If you're talking about a non-profit like "American Dream" it's a scam.
Read only very slightly between the lines on how it works.
 
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