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.
Buying a property-is it Texas law that buyer/seller MUST split closing costs?
My RA said it is-or that it is "always done this way".
Isn't is up to the seller?
Thanks
Split closing costs in what sense? I didn't pay a dime of my buyers closing costs for the acquisition side. I paid my fees for the selling side though.
The buyer has their own closing costs, the seller has their own. Sometimes, depending on the market, the seller can be asked to pay some of the buyer's closing costs, but this is more common in a buyer's market - in a hot seller's market you'll rarely see it. Sometimes, depending on the kind of loan, the seller may be required to pay some of the buyer's closing costs, but that's federal, not state, and this may mean that the seller will not look kindly on those types of loans - again, a lot depends on the market.
The buyer has their own closing costs, the seller has their own. Sometimes, depending on the market, the seller can be asked to pay some of the buyer's closing costs, but this is more common in a buyer's market - in a hot seller's market you'll rarely see it. Sometimes, depending on the kind of loan, the seller may be required to pay some of the buyer's closing costs, but that's federal, not state, and this may mean that the seller will not look kindly on those types of loans - again, a lot depends on the market.
Bottom line, it's negotiable.
Yes to all of this.
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.
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.
