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How can i get the seller to pay for my closing costs?

Is this usually done through an arrangement with the lender? i pay my closing costs to a lender so not sure how this works. appreciate input

by rnolan498720114 from Center Point, Texas. May 14th 2014 Reply


Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions

That would be done at the time you submit an offer to the seller. You would want to include the offer with a specific amount of seller credit. If they accept, your lender will see the credit and apply it accordingly. Or the seller can reject the offer or counter it.

May 14th 2014
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Or after your offer is accepted you can increase sales price with specific dollar amount which you think you will be needing Let say your is accepted at 200 and you need 5 towards closing cost and prepaid you new contract price 205 and seller pays 5000 towards closing costAslam Mansoor 9724662551Loan officer

May 14th 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Ask... It is that simple. Just put it into your offer. The vast majority of purchase transactions have "seller paid closing costs". The reality is that the seller is NEVER really paying your closing costs. Rather it is a way to roll the costs into the transaction versus you paying them out of pocket. So the seller is really just concerned about their bottom line. www.Mortgage-Duluth.com

May 15th 2014
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Pete Bass (PeteBass)
#30 ranked lender in Connecticut - 476 contributions

Yes, the seller can pay closing costs- this has to be in the purchase contract andspecify the amount of the seller credit towards closing costs.

May 15th 2014
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

On your purchase offer say "seller to pay all allowable buyer closing costs, not to exceed $x,xxx".

May 15th 2014
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