Does the Homepath incentive offered until May 1st have to be negotiated during the offer process or is it applied after a price is accepted? The Homepath incentive has to be negotiated during the offer process. Buyer may negotiate an appliance credit up to 3.5% of the final sales price towards the purchase of new appliances. Fannie Mae will deliver the appliances directly to the home. The appliance incentive is considered a part of the purchase price and is not considered a seller concession. Therefore, you may still negotiate up to 6% of the final sales price to be used towards closing costs and pre-paids.
To be eligible for this incentive:
· Property must be a Homepath home
· Offers must be accepted on or after January 28, 2010
· Transaction must close before May 1, 2010
· Buyers must be owner-occupants, investors are exclude
If you were not aware of this incentive prior to making your offer, remember you still have a second chance to renegotiate after your inspection. You can submit an Amendment to the contract to include the new appliances and or closing costs. However, the success of this will depend on what your accepted offer was and the inspection report.