Home Buying in Omaha>Question Details

Jc.gogo, Home Buyer in Omaha, NE

I am buying a house but I don't know who suppose to pay for the closing cost if the seller or the buyer, I am in omaha, nebraska

Asked by Jc.gogo, Omaha, NE Tue Jun 4, 2013

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5
There are many closing costs involved some paid by buyer some by seller some are split. If you need assistance, feel free to call me and I'll walk you through them. Ken Landolt 402-880-7000
0 votes Thank Flag Link Tue Jun 11, 2013
Your Realtor is required to provide you with an Estimated Buyer's Net Sheet. This sheet delineates all of the costs associated with buying the home. Most importantly closing costs. You have to sign this sheet as acknowledgement that you understand the financial implications of your purchase. That said, buyers can in some cases ask the seller to pay a portion of their closing costs. Depending on your financial situation, and type of financing you have secured (FHA, conventional etc.) your realtor may, on your behalf, negotiate that the seller pay some of your closing costs. Depending on the home's price point this is not at all unusual.

Best,

Lisa Andrews, Realtor
lisa.andrews@cbshome.com
402-490-0995
0 votes Thank Flag Link Tue Jun 4, 2013
Thank you Lisa.
Flag Tue Jun 4, 2013
Jc.gogo!

Congratulations on taking the steps to purchase a home!! You must be very excited.
Every situation is a little different in regards to the closing cost but some of these costs may include:

Loan Origination Fee
Appraisal Fee
Credit Report
Recording Fee
Wood Infestation Inspection Fee
Plot Plan/Survey
Title Insurance
Home Protection Plan/Inspection Fee
Escrow Closing Fee
Professional Services Fee
Broker Compensation
Lender Fees (commitment, closing, etc.)
Loan Discount Points
Homeowners Insurance, First Year
MIP/PMI/VA Funding Fee, First Year
Tax Proration
Interest Proration
Homeowners Insurance Escrow
MIP/PMI Escrow
Tax Escrow
Earnest Deposit
Loan Application Fee

I know this is a long list and a little overwhelming. However, many of these fees may not apply in every situation. In total closing costs are about 3.5% of the purchase price. It is also common for buyers to ask the sellers to cover some or all of these costs as part of the purchase.

Our team can sit down with you to answer any questions you have, in depth, regarding closing costs or any step of the purchasing process.

-Kyle Schulze
The Tabai & Schulze Team
NP Dodge Real Estate
402-699-2220
KSchulze@npdodge.com
0 votes Thank Flag Link Tue Jun 4, 2013
Most of the time, unless stated otherwise, the buyer pays the closing costs. You can always put it in your offer that the seller pays, but most of the time the buyer pays.
0 votes Thank Flag Link Tue Jun 4, 2013
Thank you for the answer and help I appreciated.
Flag Tue Jun 4, 2013
Well hopefully you have a Realtor who will answer those questions. Check your contract and it is spelled out there. If you have not yet found a home, search on this site for an agent in your area.
0 votes Thank Flag Link Tue Jun 4, 2013
Hi Jc.gogo,
I work as a Realtor in the Omaha area. Being a homeowner myself, I completely understand what you are saying. Buying a home is a HUGE investment. Although we can't tell you what home to buy or not to buy, we can walk you through the pros and cons. Ultimately it is the buyers decision. Also, buyers do not pay the agent's commission so I would highly recommend finding someone you can trust to assist in the process. I would love to help!
Flag Tue Jun 4, 2013
This is the thing they don't care most times, all what they want is their commission they don't care in what condition the house they are selling is!
And I hate it because for us, is something that we going to be paying for almost all our life otherwise for 30 years, and I think that is not correct what most realtors do!
Flag Tue Jun 4, 2013
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