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Trulia, Other/Just Looking in San Francisco, CA

Which costs are potentially negotiable in closing costs

Asked by Trulia, San Francisco, CA Sat Mar 3, 2012

Are there negotiable and non-negotiable closing costs?

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It depends a lot on whether you are buying a standard sale, a short sale property or an REO (already foreclosed) home. If your purchase is not standard, there are more fees for buyers to pay, such as home warranty policy or termite work or even delinquent HOA dues, if there is an HOA involved. I have seen banks (short sales or REO sales) that refuse to pay for city reports that are required or pay closing costs for a buyer. I hope this is helpful to you.
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1 vote Thank Flag Link Sat Mar 3, 2012
Best advice is to talk with an agent. Here, everything is negotiable from the closing costs and prepaids to reimbursement for home inspections and in some cases, using extra closing costs to pay off the buyers credit card or auto loan debt. Here, closing costs are different from prepaids (insurance, taxes, hoa, etc) and both are different from 'allowable expenses' like inspections. As long as they are addressed in the contract and 'as authorized by lender' there can be a variety of items.

Not sure what's a go in CA but a good agent will help you figure out what you are and are not allowed to put in. Good luck!
1 vote Thank Flag Link Sun Mar 4, 2012
A net sheet by escrow will be more accurate depending on what kind of a buying ,recurrent and concurrent closing cost depending on what kind of a sale ask your agent for it
1 vote Thank Flag Link Sun Mar 4, 2012
In theory, everything is negotiable. But your agent can inform you of what is typical for your area.
0 votes Thank Flag Link Sat Mar 3, 2012
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