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Is seller usually who is responsible for closing costs?

by JamesWitlett843 from Las Vegas, Nevada. Apr 8th 2014 Reply


Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions

The buyers closing costs are generally the buyers to pay. Normal transactions have the seller paying the owners title insurance and the transfer tax but It all depends on the purchase contract and what is paid by who. If your contract does not have any seller credit or seller concessions, then you as the buyer are responsible. If you have not agreed to a contract, and you need seller credit, put that in your offer and hope the seller accepts. Good luck!

Apr 8th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Buyers and sellers each have their own costs of purchasing and selling, and are the responsibility of each party respectively.. however, everything in business is negotiable.. and who pays the costs is something that is negotiated often with a home purchase/sale.. In a "Sellers Market", it's more difficult to get the seller to pay the buyers costs, since he has multiple offers, but in a "Buyers Market", it's very possible the seller will allow for costs to be paid since he doesn't have 5 offers to choose from, but just one.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Apr 8th 2014
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Kirk Anderson (KirkAnderson)
#24 ranked lender in Arizona - 50 contributions

Like everything else, just like the sales price, closing costs are negotiable as it relates to who pays them.

Apr 8th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Typically there are fees both the buyer and seller pay.

Apr 8th 2014
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Jason Robinson (CFIsupport)
#56 ranked lender in Georgia - 106 contributions

You can negotiate Seller paid closing cost in your offer. If you're already under contract you may be able to offer to pay a higher sales price and have seller paid closing cost with a simple addendum.

Apr 9th 2014
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