As Bill Phillips pointed out, who pays the closing costs is the one item that is really negotiable. Customarily in Santa Clara County the seller pays for the Tite Insurance Policy that protects the buyer, the escrow fees, the County Transfer Tax and 1/2 of the City Transfer Tax.
Sometimes the seller will try to find a cheap title company to try save a few hundred dollars in escrow fees. However the cheap title companies are usually understaffed and have high turnover rates. The result is long unnecessary delays in processing paper work and large numbers of mistakes that will cost you and the agent who represents you a lot of time and frustration to correct those mistakes, and can potentially cost you a lot of money if you and your agent fail to catch the title company mistakes prior to the close of escrow.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org
Most if not all of the origination fees are neogtiable and most of the title/closing fees are fixed, of course this depends on the lender you are working with.
To view the average amount for closing costs broken down into categories check out my blog post here http://bayareaconnect.com/average-closing-cost-amounts/
If you are not yet working with a lender I have a direct lender who works with Princeton Capital, they are our in house lender at Coldwell Banker. My lender can usually credit $3,000-$4,000 to your closing costs and they have very competitive rates.
Check out my Santa Clara County home buyers blog at http://BayAreaConnect.com for weekly real estate news, weekly new listing photos, weekly market reports and school information.
If you have any other questions please give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com
You will have to take into account any current market conditions as sellers will be less inclined to give credits when it becomes a buyers market... This includes bank owned units....
Keller Williams Realty - Cupertino