The Seller May Pay

All of the closing costs when buying a home may seem overwhelming. For example, you finally saved enough for a down payment on the perfect home, you have a little left over for furniture, etc. Now you are told that you have thousands of dollars of closing costs to pay.

Don’t be discouraged. One way out of this situation is to have the seller pay some or all of your closing costs. Don’t think that the seller will offer this to you out of the goodness of their own heart. The seller will look at these costs as lowering the bottom line of what they will receive from the sale. Depending on how well the seller has priced the home or real estate market conditions you may have to pay the seller over asking price for the home.

One thing to think about is if your closing costs are included in the price of the house, the appraiser will have to justify the sales price with sales prices of similar homes in the neighborhood.