Who pays closing costs in real estate? can the seller contribute?

Question

Who pays closing costs in real estate? can the seller contribute?

Answer 1

Don't kid yourself.  If a seller will accept $100,000 for their house.......... they will pay your closing costs if you agree to pay $103,000 and get $3,000 for your costs.  So you paid for all "your" costs.  You just got to spread them out over 30 years.

Bargain hard and don't ask for favors from the seller.

Answer 2

When you sit down & do the paperwork with your real estate agent, they will ask you if you want Seller's Assist.

Answer 3

yes, the seller can pay 100%, the buyer can pay 100% or they can reach a compromise and share the cost

Answer 4

Banks have limitations on seller paid closing costs.  My bank is:

2% for non owner occupied

3% if LTV is over 90% for owner occupied or 2nd home

6% if LTV is 89.9% or less for owner occupeid or 2nd home

Never to exceed actual.

You and the seller deside and come to an agreement during the purchase agreement time.

Answer 5

Closing costs are paid by the Buyer.  Some mortgages include the closing costs.