Advance Realty Timonium
Seller help can be limited to the loan program, loan to value and occupancy type the purchaser is using to purchase the home. Loan programs allow from 2% to 9% interested party contributions (IPCs). IPCs are costs tthat are normally the responsibility of the property purchaser that are paid directly or indirectly by someone else who has a financial interest in, or can influence the terms and sale or transfer of the subject property.
For more information on your specific purchase scenarion, you can reach me on my cell phone : 202 573-6035.
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation
However, as has been suggested by many of the other responses, there are numerous factors which determine this number.
If you need closing help assistance, you might, also, consider programs which are available to provide this assistance other than the Seller.
We don't keep data on this, but with multiple offers being the new normal, a lot of sellers don't have to take less than asking price - or asking price, but paying some of the buyer's closing costs - anymore.
What I'm seeing more commonly is that the price will be raised to include closing costs - the offer on a $300,000 property is $325,000 with the seller paying $5000 in closing costs. How that affects the "average" I'll leave to others.
Hope this helps,
** Loan program guidelines change all the time. There were talks that FHA was going to reduce the seller contribution to 3%. Whatever your plans, ACT NOW. You'd be surprised how quickly things change and out of your favor.**
Good luck no matter which side of the fence you are on!