MJ Olsen &am…, Real Estate Pro in Rockport, TX

Buyers...do you think a seller should assist with the buyer's closing costs...?

Asked by MJ Olsen & Mack Sikorski, Rockport, TX Tue Aug 2, 2011

Buyers...do you think a seller should assist with the buyer's closing costs... this question is not geared at VA Loans ... conventional loans in general... how much would you consider a fair $$ .

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3
It's not really the seller assisting with closing costs. Although it may appear that way the seller is just looking at the bottom line. They do not care if some funds are going to towards a buyer's closing costs.... they only care about the bottom line. Granted if multiple offers are being considered a buyer who is asking for less or no seller concessions would b preferred to one who is asking for all or most of their closing costs regardless if the net to the seller is the same. This is because the other buyer not asking for those costs will appear to be a stronger buyer.

So the question is not really should they assist with the buyer's closing costs. It actually comes down to the bottom line and if you can agree on that number you have a deal.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes Thank Flag Link Wed Aug 3, 2011
MJ,

It all depends on what the neighborhood activity has been doing and what the CMA says and what is important to the buyers.

For instance, on my last deal, the home owner didn't have a bunch of cash on hand to pay the down payment AND closing costs, so we did a market analysis, determined what a fair price for the home was, and then added $5000 to that offer price and asked for $5000 in seller concessions. This way, the closing costs are wrapped up into the loan and it is not a large outlay of cash at closing.

On the other hand, if someone wants a lower monthly payment and has cash to put up for closing costs, going for the lowest contract price without asking for seller concessions would be the best way to go.

It's more than real estate. It's RAYL-Estate!

Brian Rayl
Keller Williams Elite
972-949-4222
Brian@Rayl-Estate.com
http://BrianRayl.com
0 votes Thank Flag Link Wed Aug 3, 2011
All depends on how the sales offer is structured and all particulars involved

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Aug 2, 2011
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