Incentivizing
First there was the great Real World gambit, then there were the broker iPods, and then came FHA approval and 3.5 percent down. Now we’ve gotten wind of the next promotional push at Downtown Brooklyn’s Belltel Lofts — no closing costs. Anyone signing a contract at the building between November 1 and November 25 will have their closing costs covered by the developer. Given that closing costs at the building are running about 5 percent of the purchase price, that could turn out to be a pretty decent chunk of change.
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