What exactly is included in closing costs? As a homebuyer, can you get the seller to pay for the closing costs?
Closing costs generally include things like lender fees, title fees, and taxes. Closing costs typically run between 2.5% to 3% of the sales price.
For example, if you are buying a $500,000 home, you can expect $15,000 in closing costs.
“Since the fall market has slowed down, sellers are more likely to pay closing costs.”
As your real estate agent, it’s my job to find out how much of the closing costs the seller would be willing to pay for you.
In the fall, the market has been slowing down a bit. As a result, more sellers are paying closing costs in our current market. That means you can ask the seller to cover that $15,000 in closing costs for the $500,000 house.
If you keep the closing costs in your pocket, you’re basically paying yourself that $15,000 in addition to the other down payments you make on the property. That’s 10%, 15%, or 20% down on the property right away, so when you go to sell, that’s equity right in your pocket.
If you want to know more about getting the seller to pay your closing costs as a buyer, just give us a call or send us an email. We would be happy to help you!
