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pjm079 | I am thinking of selling my home will i have to pay any closing cost? |
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 |
 
Tom
|
You may, it depends on what happens in the negotiation process. You'll almost certainly want to hire a lawyer, and depending on the condition of the house, you might have to pay for various repairs (or provide some money as a credit toward repairs), and depending on how property taxes work in your area, you may still be responsible for providing even more money up front. But first and foremost, spend the extra money for the best property lawyer you can find...you want a bulldog. |
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Karen R
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Both the seller and buyer have closing costs. Sometimes it is negotiated in the contract for the seller to pay all or some of the buyers closing costs as well. |
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mrtrate_01
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you dont have to..BUT it may close your deal faster |
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Greg
 |
If your buyer has good credit, they should be able to find a lender who will roll closing costs into the loan. They may have to look around a little to find it. |
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Realty Shark
|
Normal closing costs will be 1% to 1.5% of the sales price, as a rule. You will have realtor commissions on top of that. Then take away your loan balance to come up with your estimated net proceeds. |
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Uranium_Lopez
|
yes, but the cost of the house covers it.....usually |
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tony r
 |
No you wont have to pay closing cost but the buyer will usually try to get you to pay so its up to you. I would not offer to pay any of the closing cost and use it as a negotiating tool. just figure out how much profit you are willing to take on the home then use the diffence in negotiating dosnt really matter how the money is alloted. most underwriters will only allow a max of 3% contribution from seller and if they pay cash the closing cost are very minimal.
I would start with your price and not offer any closing cost "but dont even mention it sometimes people will just assume they are responsible for those cost which they are the closing cost is strictyly a buyers cost not seller and you are in no way required to pay any. get yourself the best realtor in your area. be picky dont just list with anyone. |
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Skip
|
As with anything in this world there are certain things that must be done.
In selling your house closing cost is one of them. Though there are a few isolated incidents where a person buying the house will pay the closing cost, they are just that isolated. Normally they are trying to get the property as cheap as they can so why would they add your closing cost to the price of the house?
Ask yourself this question, when you bought the house would you want to add an additional amount to the cost of the house you were buying?
This cost is not an extremely high cost item as a matter of fact I have seen more often than not the seller offering to pay the closing cost of the buyer in order to induce them to purchase their house.
Now to answer your question Yes you will be required to pay your own closing cost and in some instances the buyer might ask you to pay their closing cost also.
I hope this has been of some use to you, good luck.
"FIGHT ON" |
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norman7774
 |
Of course you will UNLESS there is a deal whereby the buyer agrees to pay the closing costs and I can think of no reason why he should.. When selling a house.. the seller always has to pay closing costs.. THAT IS HE IS obligated to pay the closing costs and the amount of that would depend on the house being sold.... Your realtor should (if he is a bonafide realtor) tell you almost exactly what the closing costs are |
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bedroombully2000
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It doesn't take a lot of money to do the work I do. If you do have a major/costly problem with your home, it is much better to leave it alone and negotiate an allowance to repair or replace it (example:carpeting). I have watched many buyers preview homes. They will create a list of the items they feel they will have to do something about and whether these items are large or small, if that list gets too long, they'll just walk away. I only do minor repairs and cosmetic improvements to make that list the shortest it can be. The minor cost of this work is nothing compared to the results, a more attractive and valuable property |
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the d
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i sold my house about five years ago, i think that there are some sellers closing costs, they're not high though |
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P*Kitty
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it would be wise of you to contribute you can always make up for it in the price of the house |
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bigbadwolf
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Like just about anything having to do with purchasing or selling a house, it depends on what the two parties negotiate. There is no set rules as to who pays what. |
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