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VERY common here in MN. I would say 80% of the FTHB deals I do have seller paid closing costs and I work with quite a few FTHB.
Interesting as I'm in WI. My realtor looked at me like I had lost my damn mind when I wanted to ask for closing costs on a spec model home, and told me they would turn it down. Needless to say I will never be giving that piranha a referral, but I don't see it too often in listings, and our buyer didn't ask for them either.
Interesting as I'm in WI. My realtor looked at me like I had lost my damn mind when I wanted to ask for closing costs on a spec model home, and told me they would turn it down. Needless to say I will never be giving that piranha a referral, but I don't see it too often in listings, and our buyer didn't ask for them either.
Builders may be reluctant to provide closing costs if it's not already part of their buyer incentives. Doesn't hurt to ask though.
Most listings (at least around here) don't explicitly indicate seller paid closing costs availability, you have to request in the offer.
Will be buying a house here soon and I will not be asking for the seller to pay closing costs because those closing costs are tax deductible. Plus I would rather negotiate for a lower selling price than negotiating for the seller to pay for my closing costs. People don't understand that a majority of your closing costs are negotiable.
Will be buying a house here soon and I will not be asking for the seller to pay closing costs because those closing costs are tax deductible. Plus I would rather negotiate for a lower selling price than negotiating for the seller to pay for my closing costs. People don't understand that a majority of your closing costs are negotiable.
Only points and origination fees are tax-deductible, fyi.
Will be buying a house here soon and I will not be asking for the seller to pay closing costs because those closing costs are tax deductible. Plus I would rather negotiate for a lower selling price than negotiating for the seller to pay for my closing costs. People don't understand that a majority of your closing costs are negotiable.
As Kas states, only origination and points are tax deductible. The kicker is that the buyer gets the tax deduction even if the costs are paid by the seller.
It might be better for you to go for the lower price than the seller paids, but that certainly doesn't mean that is true for all borrowers.
Interesting as I'm in WI. My realtor looked at me like I had lost my damn mind when I wanted to ask for closing costs on a spec model home, and told me they would turn it down. Needless to say I will never be giving that piranha a referral, but I don't see it too often in listings, and our buyer didn't ask for them either.
You won't see it in the listings here either. No need to put it in the listing.
Did you put in an offer on the spec home with the seller concessions or did your 'know it all' agent dissuade you from even making an offer.
Yea technically it is not a "Closing Cost" but it is part of the costs for you to close on the home that is tax deductible.
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