Home Buying in Houston>Question Details

Vero, Home Buyer in Los Angeles, CA

Are the closing costs usually paid by the new home builder, or does one need to negotiate that? Thanks!

Asked by Vero, Los Angeles, CA Mon Jun 23, 2008

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It's a point of negotiation. COnsiering the desperation of most builders to sell anything, I'd be surprised if you weren't able to get the builder to pay for the maximum closing costs Fannie or FHA allow.

Keep in mind that if you're financing, and if the seller is paying your closing costs, you are actually borrowing the money to give the builder to give back to you at closing for your closing costs UNLESS the Settlement Statement shows the seller is bringing cash to closing for your closing costs.
1 vote Thank Flag Link Mon Jun 23, 2008
You should be able to negotiate the Title Insurance Policy, and part of the escrow fee's with them.
In many cases they will offer to pay lending interest points as well.

One thing I find true, is most new home builders offer Agents deals they do not offer direct buyers.
I would get with an agent and have them contact the builders in the area you are considering.
0 votes Thank Flag Link Wed Aug 13, 2008
Hi Vero,

BOth buyers and sellers have closings costs to pay - it is not uncommon for sellers (including new home builders) to pay for some of the buyer closing costs but you do have to ask for it in writting.

If you are not already working with a realtor who is representing I would love to help you. PLease feel free to contact me at:

Juan Carlos Hernandez
281-660-9988
hernanjc@comcast.net
Web Reference: http://www.har.com/jch
0 votes Thank Flag Link Mon Jun 23, 2008
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