Home Buying in Queens>Question Details

New Homebuyer, Home Buyer in Nassau County, NY

Is escrow at closing table paid by your sellers concession if there is enough money left over? If not is the buyer required to pay the difference?

Asked by New Homebuyer, Nassau County, NY Tue Jun 25, 2013

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Both the buyer and seller have their own closing costs. If you have a seller concession to cover those costs they will be applied first, however if there is a shortfall you will be responsible for those fees at closing. If there is a surplus from the concession they will go back to the seller.
0 votes Thank Flag Link Fri Aug 2, 2013
How about if I kinda ignore your question and tell you this;
If you go in to the Escrow/Title Company, and ask for your Escrow Officer, you can ask him/her to make you up a HUD1 for your House.
It will show everything; and there is seldom any "money left over".
0 votes Thank Flag Link Tue Jun 25, 2013
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