U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-21-2007, 08:23 PM
 
11 posts, read 46,642 times
Reputation: 12

Advertisements

Currently we are renting as we find "that perfect area". In Iowa, it was pretty much the norm that the seller paid buyers closing costs...what is the norm here?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 01-21-2007, 08:27 PM
 
Location: Wake Forest
2,834 posts, read 11,467,942 times
Reputation: 1055
As always.........it depends! I have had buyer's receive 4k in closing costs from the seller, and some have received nothing. If you are buying new construction, you can sometimes get deals by using their approved lender. It is not a norm here for the seller to pay the buyer's closing costs.

Leigh
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-21-2007, 08:58 PM
 
Location: Durham, NC
1,232 posts, read 3,597,482 times
Reputation: 604
Every state is different, and it all depends on the demand of the area. In areas of high buyer's demand, the buyer is probably paying their costs. Other areas, well, make sure you find an agent that WILL negotiate this. Some aren't that adept at negotiation (we had an agent that showed us a lot of inventory, but her negotiation skills were atrocious, so we fired her).

As for us, very little came out of my pocket. We had the sellers pay for 2 grand in closing costs; our agent's brokerage paid about 1500.00 as an incentive; and our bank paid for the appraisals and origination fees. All in all, after securing inspections and what not, we probably paid about 400 bucks out of pocket on our closing.

For my investment properties, I will get cash back in my pocket every time. No question about it.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top