My Top 3 Picks for Outside Dining/Drinking In and Around Lancaster

Not in any order... but my favorite places to hang with friends, have a few drinks and grab something to eat are below. (Click on the name to go to their web page)  I quickly add that I haven't hit all of the places with outdoor decks/patios, so feel free to comment with your favorites.

1. TJ Rockwells

Large multiple decks in a wonderful setting. Just outside of E-Town, Rockwells has a large selection of items from munchies to entrees. The food is good and the portions are significant. Some of my favorites: Baked Tomato Soup (covered in cheese), Ribs, Fish Sandwich and Wings.

2. Annie Bailey's Irish Pub

One of my personal favorites - maybe because I'm half Irish! Downtown Lancaster... and I have a preference for downtown. Nice deck, great service and fun people. The drinks and the food are a hit too. Again, Wings are excellent... as well is almost anything on their menu. and one of the few bars that can make a good Margarita. But my choice is always a Black and Tan. I watched the Women's Soccer World Cup Championship there... now only if they would carry all of the Raven's games!

Oh... I had to show the KW gang on the deck!

3. Loxley's

OK... the setting may not be the greatest... kind of overlooking the most heavily traveled road in the county and next to Rte 30... BUT, the outdoor bar and seating, downstairs and upstairs, are very nice. And, if you haven't noticed, the upstairs bar has water running through it... seriously. Easy parking, which is a huge plus, makes this an easy spot for everyone to gather. The food I had was decent, but to be honest, I drank more than I ate there... so I still have to try more of their menu.

So there you have it.... my top 3 picks....  What are yours? Let me know. Click on 'Post a Comment' and add yours! I'll be doing more "reviews" based on different characteristics/features in the near future...  

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The Myth: Sellers "Pay" Buyer's Closing Costs

Sellers never pay the buyer's closing costs... plain and simple! Forever, all parties to a transaction have used the phrase: "Seller paid closing costs"... or something close to this. The truth is that in every situation I can think of where there is a "seller consession", the buyer is actually still paying the closing costs and financing them in with the mortgage. Let me explain why that is....

One needs to view the transaction from the seller's perspective. They have a house to sell and they have a price in their mind that they will not go below. Or, stated differently, if they get this price or above, they will be happy. For this example, let's say that price is $300,000. They could and probably are asking something more than this amount. Selling the home for $300,000 would net this particular seller $75,000 at settlement.

If a buyer comes to the table with an offer of $300,000, the seller is thrilled and accepts. If the buyer comes to the table with an offer of $315,000 and asks for $15,000 from the seller to cover closing costs; again, the seller will be thrilled and accepts. Under either scenerio the net price to the seller is $300,000. And in both cases he nets $75,000 or close to it after adjusting for a little difference in higher costs for commission and transfer taxes on the extra $15,000. (Approx. $1,000). The seller would not accept any offer that has a net price lower than $300,000.

Since the buyer may now have a loan amount $15,000 more ($315,000 vs. $300,000), the buyer is actually financing the closing costs into the mortgage loan. The seller hasn't "paid" the buyer anything.

It always surprises me that buyers don't get this. When I explain their options as we develop our offer strategy, they have trouble understanding it from the seller's side. And the seller's side is very simple - the bottom line or what is the amount they walk away with at settlement. How it's structured between offer price and seller consession doesn't make any difference to the seller - as long as the home will appraise for that offer price.

Finally, when preparing an offer,what we should ask the buyer is: "Are you paying your own closing costs at settlement or do you want to finance them?"