Is it common that a home seller pay the buyers points 3%

3% seller paid concessions toward closing costs and prepaids is prevalent throughout Northwest Indiana in today's market. Your REALTOR should have prepared you for this when you listed your home. Good luck on your negotiations.

There is no standard answer to this question. Often times first time home buyers only have enough savings to pay for their down payment and they will request seller concessions to cover the closing costs. Usually the buyers will offer a higher sales price in order to compensate for the sellers contribution to closing costs. For more information contact me through my profile or 435-313-7400.

It is fairly common - it keeps the buyer's out of pocket cash lower. They can use the concession to lower their rate as well.

In my opinion seller concessions is relative to sales price. If you are given a 'low ball' offer then you are less likely to pay concessions. A full price offer would encourage you pay concessions to reduce the buyers costs. If a buyer doesn't have the funds to pay their own costs this is a reasonable offer for a successful transaction.

Like others have stated it you get get closing costs in the negotiated contract and then you get to apply them how you want on the loan.

Yes, super common... So common that most Real Estate Agents in my area assume that every buyer is going to ask for 3% seller paid closing costs, so it is already built into the asking price. www.Minneapolis-Mortgage.com

Yes. It is also common for sellers to pay nothing toward closing or even a higher amount. From your question, I can't tell if you are a buyer or seller. I would advise to talk to your realtor either way and to find a mortgage consultant you trust.

It is so common that I'm surprised when it doesn't happen. On occasion I do see a contract - where multiple offers were involved - that has no seller paid contribution.

It is common for sellers to pay a percentage of up to 3% of closing costs and prepaids however it is not required. Take into consideration your list price, your particular market area, the length of time you have had your home on the market and how motivated you are to purchase a new home when deciding whether or not you will give concessions. The Sale and Purchase of your home is a negotiation that you control, be realistic in your expectations of the net proceeds you will receive and the total time it will take close your transaction. Feel free to call me if you have any questions on finance. 260-433-1260