Who Pays The Closing Costs?


Who Pays The Closing Costs?
By Scott Rogers • February 20, 2008
Some buyers make offers including a condition that the seller pay all or some of the closing costs. Some sellers offer the incentive of seller-paid closing costs to try to entice buyers. What's really going on here? There are a few ways to look at it: For some buyers, it can make all the difference in the world! Some buyers are pursuing 100% financing (which is getting harder), and may not even have funds to pay their closing costs. For these buyers, if the seller won't pay the closing costs, the deal won't happen. For most sellers, it doesn't make a bit of difference! Paying a buyer's closing costs changes the net proceeds to the seller -- but the amount of the closing cost allowance simply becomes another term of the negotiations. The seller subtracts the closing cost allowance out of the contract price, and negotiates accordingly towards their desired net proceeds. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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