but if you are working with a Realtor that Realtor can put some numbers together for you, but remember none of the numbers will be 100 % correct until a day or so before the closing when the
title company puts them all together, furthermore, the contract you signed may make some differences as well, which we here do not know about.
So either discuss with your buyers agent, or contact a real estate attorney for you protection at the
closing table, a few 100 dollars spent now are worth getting a surprise down the road...
Good Luck to you
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Bear in mind there is no free lunch. Every Seller has a true bottom line and whatever you request in closing cost assistance is factored in. Here's an example: A home is listed for $250,000. The Seller is willing to accept $240,000 as their bottom line. You request $4000 in closing costs, The contract ends up being written at $244,000.
The advantage to the buyer is that it saves them $4000 up front and allows this to be rolled into their mortgage where it's only costing them around $15 per month and leaves them with $4000 that they can spend up front for any work or appliances etc that they may need/want.
Good Luck and Happy House Hunting.
"Closing costs" is a term that applies to both seller and buyer. Each have their own in a traditional transaction. Of course, no transaction is "traditional". Certain costs are paid by the seller... such as title charges, survey, inspection, etc. but everything is subject to your contract. If you want a good estimate, contact an attorney that specializes in real estate or speak to an experienced real estate agent (always "google" their name to see if they have a criminal record... there are a few that are on Trulia FYI....so its always a good idea!.)
Good luck in your search!
1. The buyer's lender will limit the amount of the credit the buyer can receive and that credit can be applied only to certain items on the HUD (the itemized list of costs)
2. If the credit is more than the actual costs, the buyer will only receive an amount equal to the costs
3. A seller often looks at their bottom line in determining whether to pay the buyer's costs. For example, if the seller wants $200,000 but the buyer wants $6,000 in closing costs, the seller will now ask for $206,000. Essentailly, the buyer will pay for the price of the property PLUS the closing costs.
I recommend if the buyer can afford to pay for his/her own costs, that they do so. But if the buyer risks being cash-poor after the closing, it's better to ask for the seller to pay them.
Hope that makes sense!