Another reason for
including financing information in your offer is to protect yourself. If
interest rates suddenly become volatile and rise quickly, as sometimes
happens, you may looking at a mortgage payment much higher than you
anticipated. By putting a maximum acceptable interest rate in the offer,
you are protecting yourself from such an occurrence.
At the same time,
the seller will probably want to see that you have some flexibility in
the financing terms you are willing to accept. If interest rates are
currently at eight percent and you indicate this is the highest rate you
will accept, you would be able to cancel the contract without penalty if
interest rates rose past that point. The seller would suffer because
they have lost valuable marketing time and may have made their own plans
based on successfully closing the transaction.
Niceville Homes for
Sale
