Seller Paying Closing Costs

[rjrcm]

Originally Posted by mimimam

I would like to know a ball park figure on the closing costs on property that is selling for $30,000.

Are you paying all cash or financing some portion? All cash can be a few hundred $ depending on the closing fees, title insurance cost, etc. If financing, then add in cost of your loan - origination fees, discount points, appraisal cost, etc.

[aneftp]

I offered to pay $10k closing costs on my home. It was advertised on the MLS

I was very agressive on my price also (took huge loss) but wanted to move $525k property. Went to contract in less than 30 days for $5k off list price.

[sportsgal]

When we listed our former home for sale last year, our agent told us that a buyer would almost certainly request closing costs. We didn't advertise it, but when we got an offer requesting closing costs and a 10 percent reduction in list price, we countered with full listing price but agreed to pay buyer's closing costs (up to $5,000, typical for our market). Our counter was accepted.

Now that we're buying, we assumed that the seller would pay closing costs. Nearly the same situation with our offer--seller agreed to closing costs but agreed-on price approached list.

Talk to your agent and ask what's the current norm in your market. Good luck.