Well at least you defined the price which was 12,000. This is good. Add an addendum to say that the closing costs are both recurring and non recurring . Also know that if you do not use all of the 12k up, that you the buyer do NOT get the difference, the lender will not allow that. So make sure you eat that money up IN ESCROW even if it means getting some upgrades done to the home.

Now you may or may not get a p.o.s loan but YOU have the power to prevent that. It just takes legwork. Also remember, dont focus on just the rate. If you are gonna get an apples to apples comparison you need to include rate and cost of financing.