If you can, try to negotiate a few months rent. What they have offered you is kind of paltry in my opinion. Think about it this way… First off you can ask for a credit from many sellers right now for covering closing costs including a point to buy down your loan. As the market continues to depreciate that will not go away and in fact it will likely improve. Similarly you can most likely find commission rebates from places like Zip or other brokerages that will add more money in your pocket. The potential for decline is much more then 5-10%, ESPECIALLY in neighborhoods like North Park and I will eat my chargers cap if downtown doesn’t fall by more then 10% between now and whenever the bottom of this mess happens.
