Get a good buyer broker. It will save you a lot of time and money.
If you choose to include your closing costs you are essentially financing your closing costs to keep some more cash on hand. That decision is totally up to you. Make sure you are working with a good buyer agent that can give you some guidance.
If you cant afford the closing costs, you cant afford the house. What are you going to do when the roof leaks next year and the cost is 10 grand to fix it ??
Not to mention the increased commission that you and the seller are losing and the increase in the valuation / subsequent property tax
I think you may have meant to say "instead of $350,000 to pay $370,000...."
Either way, I think I can answer the question. Many buyers DO ask for the sellers to give them a credit back at closing to be applied towards closing costs and prepaid items (such as real estate taxes which are paid in advance). I believe the maximum allowable credit is 6% of the sale price (but PLEASE confirm with your lender).
Based on a purchase price of $370,000 that would be $22,200 so you, as the buyer, would reap the larger benefit. If you have a seller who is willing to agree on these terms, you just might want to go for it! Again, check with your lender first though!!!!
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