Inventory is still pretty limited and cash is still King and most agents I would with would caution a home buyer about being very aggressive in requesting seller contribution as it could diminish the chances of the contract being accepted.
Every situation is unique....but it is imperative to work with a real estate professional who can guide you through the process of negotiation AND that you trust to give you advice that will help you accomplish your goals.
It really depends on the situation you are in. If the property attracts a lot of attention and thus many offers, the seller will obviously choose the best, which means that you may have to pay for all the closing costs.
However, when you write the offer to purchase, it could be a good starting point to offer 50/50 at least you and the seller are sharing the closing cost.
Everything is negotiable,
Allied Green Realty
619 995 9467
In California, we use Escrow/Title Companies; they work for both the Buyer and the Seller.
Ask your Realtor for the name of your Title Company and your Escrow Officer.
Ask your Escrow officer for a hypothetical HUD1, using the numbers that you provide. You will see the total monies involved, broken down by Seller and Buyer, total Closing Costs and what is needed to Close the Escrow.
It's all a matter of what your agent has negotiated for you. Just remember that when dealing in real estate everything is negotiable and as long as you can ask the question all they can say is yes, no, or counter back with something they are more willing to do.f
So if you are currently working on a deal be sure to check with your agent and just make sure he/she is aware that you want say $6,000 or 100% of closing paid for the seller and you can be assured that the agent will try to negotiate the best terms for you.
Have your agent get you a breakdown of how fees are split between buyer and seller so you can get a better understanding.
Lance King/Owner-Managing Broker
King Realty Group
The information you received so far is good. There are many variables that are property specific, so it's hard to give you a percentage without asking the necessary questions. When you're ready to list your property, your agent will prepare a Seller's Net Sheet, so you go in with a good idea. Not all agents prepare this the same, but if done correctly, the final number should be very close to your final closing costs.
Cory La Scala, REALTOR
Lic # 01443391
619 519 3287
While everything is negotiable, "usually" the seller pays the following closing costs:
1/2 the escrow fee
title insurance for the new owner (but not for their lender's title policy)
recording fees (for the deed but not any mortgage documents)
a home warranty if included in the purchase contract
HOA document prep and transfer fee
natural hazard disclosures
Pest Inspection and Clearance (again, if it is part of the purchase contract)
Property taxes and HOA assessments are pro-rated between buyer and seller
Since some fees are fixed and others vary depending on the purchase price, the % will be much greater on a lower value property as compared to a high-dollar property. Brokerage commissions can be negotiated and can vary widely.
If you have any questions, please contact me as I really enjoy being a real estate broker and am happy to share my knowledge and experience.