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Hi,
We are hoping to buy a home with a seller willing to pay closing costs ($4,000, possibly less). We are willing to give an offer with $5,000 or less off the asking price. What are your opinions? With a good offer on the home, are most sellers willing to pay closing? Thanks!!!
That is not that easy to answer, it all depends on the sellers situation. Are you talking new construction or resale? Everything is negotiable, they may be willing to pay half, all or none.
If you're buying a new home, I'd think the builder would pay no problem, as long as you use their lender. If it is a resale, it depends on how much you are willing to pay for the home.
You should be ale to get your closing fees included into your offer price without much problems. And still get a good price for your purchase. Depends how long the house has been setting as well.
In this market, the sellers will listen to anything reasonable. Be sure to have multiple points you're ready to negotiate on so you can give a little, but still get what you want.
As a recent seller, if you are offering 5K less plus another 4K in closing costs..than that is 9K off the house price. If you offer that, I would expect a counter to a little closer to 0 off the house price and keep the 4k in closing. That's at least what I would have countered with. I don't think what you have proposed is unreasonable though.
We sold our house in Chapel Hill this year and received 4 offers. All we cared about was our bottom line. Asking for closing costs was the same to us as offering less on the house.
We sold our house in Chapel Hill this year and received 4 offers. All we cared about was our bottom line. Asking for closing costs was the same to us as offering less on the house.
Absolutely right.
But every now and then you bump into the person who says, "Why should I pay their closing costs for them?"
If you offer a seller $100,000 on his house...his net is $100,000.
If you offer a seller $100,000 on his house and ask him to pay $5,000 in buyer's closing costs, his net is $95,000.
If you offer a seller $105,000 plus have him pay $5,000 in buyer's closing costs...his net is $100,000.
If you add buyer's closing costs to price of house...it must appraise.
Vicki
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