Chitownproperty

Since both the sales and mortgage markets have tightened at the same time, buyers can now take advantage of different incentives offered by developers. Some developers eager to sell new units are offering buy-downs, or paying to lower a buyer’s interest rate by a few points, to entice buyers who may be having trouble securing a better rate. As Marilyn Kennedy Melia writes in the Tribune, buyers are also finding other incentives like payments for closing costs, taxes and assessments. But despite these juicy perks, buyers should still investigate the developer’s financial stability and track record before signing on the bottom line.