Which costs are potentially negotiable in closing costs

Asked by Trulia, San Francisco, CA Sat Mar 3, 2012

Are there negotiable and non-negotiable closing costs?

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Brian Goldberg’s answer
Brian Goldbe…, Agent, Malibu, CA
Sat Mar 3, 2012
Although all terms and costs are potentially negotiable, there are customs that vary from area to area. A local broker in the neighborhood will be able to guide you through what is customary and discuss your options. If you have any further questions, please feel free to call me anytime at (310) 403-4623 or email brian@brokermalibu.com
Web Reference:  http://www.brokermalibu.com
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Richard "RJ"…, Agent, Beverly Hills, CA
Sat Mar 3, 2012
All costs and terms in a contract are negotiable. Agents will often state which costs are
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Yuri Katz, Agent, Los Angeles, CA
Sat Mar 3, 2012
Although any closing costs are potentially negotiable, and reflect along with the price, a basic rule of supply and demand, it is good to keep in mind the interests of the parties and some common traditional ways of handling them.
For example:
as a buyer you obviously want to pay for your inspections;
sellers pay to insure buyer's ownership interest in the estate as a good faith;
property taxes usually get prorated between the parties as of the date of closing, etc.
All of the above is common but not set in stone. Moreover, in most of the new developments where the seller is the builder, a buyer would be offered a customized developer's contract that might have all of the closing costs on the buyer's side. That is because the developer works in their accounting with the net proceeds of the sales, and the way to handle such situation for the buyer is to ask for credit on the purchase price itself (which might be helpful down the line with lower property assessment).
Don't hesitate to approach an experienced broker with a specific situation for a pro opinion.
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