Home Selling in Fayetteville>Question Details

owestbro, Home Seller in Fayetteville, NC

seller contribution to buyer closing costs

Asked by owestbro, Fayetteville, NC Wed May 16, 2012

Where can I find statistics for at least the last 5 years showing the seller contributing to the buyers closing costs and how much they contributed?

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Hey Owestbro,
As per the answers you have already received..you can't.
However, there is a "seller's basic closing cost", from the NAR that I can send you. Keep in mind that all deals are negotioable and most of these costs are dependent on what type of loan you as a buyer obtain. If you are the seller, hopefully your REALTOR explained what happens.
The truth is the Lending Statement- or the HUD-
Buyer is on one side, Seller is on the other side
I will be glad to send you the NAR of basic closing costs-
and a copy how REALTORS use this-
Let me know-
LeAnne Kittrell
0 votes Thank Flag Link Sun Oct 21, 2012
Around are area it has become customary that the seller contribute towards the buyers closing cost. The typical closing expense is about 3% of the purchase price. You can pay some or all depending on the deal you work out between you and the buyer. Of course in real estate everything is negotiable!!
0 votes Thank Flag Link Sun Sep 9, 2012
There really is nowhere to find a compilation of the statistics you are looking for. Each market is different. In a primarily VA market like Fayetteville, NC (home to Ft Bragg), sellers typically pay all or most of the buyer closing costs. And the buyer agents know this and advise their buyers that if the seller doesn't pay your closing costs, then we go to the next home. It is almost impossible to sell a home in a VA market unless you pay the buyer's closing costs. As a general rule, closing costs run approximately 3% of the purchase price. If a buyer asks for more than that, I would negotiate on closing costs to bring them down to no more than 3% of the purchase price.
0 votes Thank Flag Link Sat Sep 8, 2012
I don't know of any statistics for seller contributions.... Most buyers today (especially first time buyers) do need help with closing costs. If you're moving up you can always ask for closing costs on your purchase as well. Every buyer and seller are different, each have different needs and circumstances. When a buyer and seller can agree on terms that's when you will have a successful sale. Don't worry about what other sellers are doing. Do what fits your specific situation.
0 votes Thank Flag Link Wed May 16, 2012
There is no statistics of such to my knowledge how ever sellers use the closing cost as negotiation tool to get the deal done. Right now definitely is a buyers market so sells do offer the buyers to Pay all the closing cost but it's never a set thing where seller must pay all the closing cost. I hope that answered your question and please give me a call if you have any additional question.
0 votes Thank Flag Link Wed May 16, 2012
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