Edna Lawton, Home Buyer in Dallas, TX

can u still get assitance from seller on closing cost?

Asked by Edna Lawton, Dallas, TX Sun May 20, 2012

Help the community by answering this question:

Answers

15
Yes, you can still ask the seller to pay closing costs but they don't have to agree. Also, the lender doing your loan may have restrictions on it so make sure to check with them.

Don't forget to use up the funds that are agreed to. If you ask for, and the seller agrees to, $4k back in closing costs and the estimate for your closing costs comes out to $2800 then you should look into buying down the rate for your loan to use the balance of the $4k.

Good luck with your purchase!
1 vote Thank Flag Link Thu May 24, 2012
You can always ask, it's all part of the negotiation process.
1 vote Thank Flag Link Tue May 22, 2012
Michelle Gonzalez makes a good point.
You CAN get assistance. Seller doesn't have to give it though.

Most will if their realtor isn't a dinosaur. The bottom line(net) is what they will be looking at so you could buy the house cheaper with no assist or pay a little more with assist.

Did that make sense? LOL

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Tue May 22, 2012
Yes, just ask for it when you make your offer.
0 votes Thank Flag Link Tue May 22, 2012
YES!!

This feature is very alive and well on home loans. I do it all of the time.
Please feel free to call me anytime to discuss you specific situation.

Tom

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Mon May 21, 2012
Yes the seller can pay up to 6% on closing cost and prepaids on FHA... ON VA the seller can pay 100% ... There is assistance money out if you can qualify ... give me a call 214-557-3312
0 votes Thank Flag Link Mon May 21, 2012
yes, you can get it for FHA or Va loan. But some lenders won't allow any assistance from seller.
0 votes Thank Flag Link Mon May 21, 2012
This question is one of the reasons you should be working closely with a Realtor.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Mon May 21, 2012
You can get it paid as long as the seller is willing to pay the fees.
http://www.mnhomescontractfordeed.com/hennepin-county
0 votes Thank Flag Link Mon May 21, 2012
Yes, the thing to remember is that everything in real estate is negotiable.
0 votes Thank Flag Link Mon May 21, 2012
Talk with your Agent but, yes you can.
0 votes Thank Flag Link Mon May 21, 2012
Yes, you can. It's called a Seller Concession and it happens all the time. The FHA caps the amount you can receive at 6% and you need to use the proper language, "Seller agrees to contribute up to 6% toward buyer's closing costs and prepaid items" but by all means it can be done.
0 votes Thank Flag Link Mon May 21, 2012
A seller should look at their net amount from your offer and then decide whether the offer is acceptable. If your offer places the closing costs on the seller side of the contract and the net is good, you should have a deal. Your broker might need to do the net-out for the seller to illustrate this point.
0 votes Thank Flag Link Sun May 20, 2012
Yes, how much depends on your type of loan (FHA,Conventional,Etc...). There are a lot of programs out there with $0 down, $100 down, and other programs that can cover closing costs if you can't or just don't want to be out the money. Too many options to put in a written response, please call as I strive to get the best deals for my clients with as little out of pocket as possible!
I look forward to assisting you with your search.

Best Regards,
John Greer
United Real Estate
214-460-8381
jgreer@unitedrealestatedallas.com
http://www.johngreerhomes.com
0 votes Thank Flag Link Sun May 20, 2012
Your mortgage broker and Realtor should be assisting you . It also depends upon your lender approval. and how the sales offer structured.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multi Million Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Sun May 20, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer