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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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Every aspect of the contract is negotiable! There is the standard practice in which each party pays their own fee, however, it is possible to have the seller pay all or part of the closing costs. In fact, it could be negotiated for the buyer to pay sellers fees including commission. Asking for the other party to pay fees makes it somewhat more difficult in many cases for many reasons. Call, text or email to discuss specific circumstances!
Tony Lewis
RE/MAX of Valencia
Cell - 661-510-7975
Web Reference: http://www.TonyLewis.com
1 vote Thank Flag Link Sat Mar 3, 2012
Do you mean negotiable for the seller to pay? You can ask for the seller to pay ALL closing costs, so in that sense everything is.
0 votes Thank Flag Link Mon Mar 5, 2012
Most contracts have room for negotiation with regard to closing costs.

As the buyer, you can often request assistance with your closing costs from the seller. Keep in mind that you may ultimately need to add those costs to your purchase price, to make your request more palatable to the seller. Each case is different and an experienced realtor can provide sound guidance. Watch for "junk fees" on settlement statements from escrow, and be sure you have a good faith estimate from your lender.

As the seller, you must also review your settlement statement carefully. Your realtor should present an estimated net sheet prior to listing your property, to give you a full understanding of the fees involved with selling. Escrow will provide you with another net sheet before closing, and it's wise to review your fees closely at this point as well.

Keep in mind that all persons involved in your purchase or sale are professionals who are helping you to achieve your real estate goals, and their knowledge and services are valuable. More often than not, those services are well worth the price paid.
0 votes Thank Flag Link Mon Mar 5, 2012
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