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Subject:  Re: Capital Gaines on sale of house Date:  10/11/2001  2:21 PM
Author:  jrspec Number:  54534 of 127753

The practice you're talking about is called a "seller concession" in many areas and it's NOT unusual. In fact, there's even a spot for the realtor to list the amount of the "concession" in the multiple listing service once the house is sold and the selling price is entered in the system. You're just enabling the buyer to roll some of the closing costs into their mortgage, and it's EXTREMELY unlikely that their lender is unaware they're doing's usually right in the contract! And it will certainly be spelled out in all the closing papers. However, there's NO reason you'd need a special "program" to make such a concession...that aspect is a little weird. Sounds like the program might be a little shady, taking a cut maybe?

What does your broker say?

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