If I recall correctly when I bought a building years ago I, as the buyer paid the closing costs. Is that correct? My prospective realtor is telling me as the seller i’ll be paying closing costs.
Who pays?
Thank you.
I’m not a real estate agent and this is just my opinion. I’m not sure Dutch but I think that is a negotiable item.
What are going to buy to replace it?Do you need more room for a new and bigger boat,something in the BK range?
What are going to buy to replace it?Do you need more room for a new and bigger boat,something in the BK range?
Yes to all.
I think it is all negotiable. I would imagine the seller has all the power in the current market
We’re closing in less than 2 weeks. We are buying different property for our primary home. When we close as buyers we are paying all closing costs. 
Anyone need a 2nd home with an awesome view of the pool 5A Mississippi river, and boat landing 2/10ths of a mile in front of the house let me know. 
It’ll be for sale, and when we sell, I’m not paying closing costs as the seller. 
Thanks guys.
Always being the skeptic i’m wondering of some Real Estate agents don’t ding both buyers and sellers closing costs. I know I’m always the only one in the room at the closings.
Seller pays title work buyer pays bank closing cost. I think the word closing cost should not be for both sides. Seller and buyer both pay closing cost but they are different types. Of course it can be negotiated on the offer to purchase.
It generally depends on the market but it’s ultimately up to the seller…but remember, closing costs are different then realtor fees.
I think it is all negotiable. I would imagine the seller has all the power in the current market
This right now is true. It’s a seller market. Homes are selling quick with the interest rates historically low. There are also people moving out of populated communities or considering moving.
Us as buyers. We didn’t have much of an option but to pay the closing cost. Next person would have.
Negoitable. When we purchased our lake property last year the guy dropped his bottom line asking price and we picked up the closing costs. We still came out a couple hundred ahead. There’s a new reg about closing costs. If you are borrowing money the bank will sometimes estimate the closing costs without talking to the the title and closing agency. The banks have a good idea of what closing costs would be based on a property’s value etc. They then build the closing costs into the final loan amount.
What happened with us is the closing company we used were about double of what our bank estimated for closing costs. According to the new reg the banks had to cut a check back to the borrower for the difference so we got a check from the bank at the time of closing. The title company was basically taking advantage of the new reg by doubling the costs knowing the bank and not the borrower was going to be on the hook for it. Shoddy business practice.
There’s no reason as a seller that you’d pay closing costs in today’s market. Banks are blindly willing to roll them into mortgages with historically low interest rates and them being back to their “lend to anyone with a pulse” ways similar to the previous housing market collapse.
Anyone moving and buying in today’s market knows that paying closing costs is going to be the norm…along with minimal negotiations on the asking price of well positioned properties.
Costs and fees are paid by whomever by whatever is negotiated into the contract, typically put into the buyers offer.
It’s how ever the deal is done. If I’m seller and paying closing I won’t budge on the price!
The Mrs finally agree to move to Kab dutch?
When I bought a condo in Sturgeon Bay Wi. last year, seller paid closing. Also when I bought a vacation house in Texas in 2010, I know that the closing costs payment was just the opposite as Wis, at that time. So I guess it just seems to vary in where you are buying. As my wife’s sister owns a title company, I always had her check on the local customs, so that I wasn’t getting BS’ed on who covers costs. I think it is still negotiable no mater what the local custom. There are still some costs for ea party, but one side will typically pay much more than the other
I think the confusion is what cost. Buyer pays closing costs to settle deal and seller typically pays realtor fees. Half of the realtor fees go to selling agent and have to buyer’s agent.
And there in lyres the difference, as it comes down to where you live. In Wi, with my last house purchase the seller covered the closing costs, your typical title company fees, with the buyer covering a few very small fees for record filing. In my case, I think it was under $200 total. No bank fees, as I didn’t have a loan. Also according to my wife’s sister, who has owned a title company business for over 20 years, in Racine Wi., the seller typically pays fees there. House I purchased in Texas, the buyer was typically responsible for fees. So Dave, what it seems is, that it is up to the local custom, or what is negotiated, as to who covers fees. It seems as though, in Mn., the buyer pays.
I think the confusion is what cost. Buyer pays closing costs to settle deal and seller typically pays realtor fees. Half of the realtor fees go to selling agent and have to buyer’s agent.
And the agent fee is normally 6% to 12% from what I have heard.
Not trying to hijack the OP’s thread but…
I’m looking to sell my home soon but want to do it myself. Has anyone here recently sold their home “by owner”? How’d it go? Just trying to save some money from agents haha.
It’s all negotiable. seller gave us $2K cash at closing and seller paid commissions when we bought in november.
yes to everyone who said negotiable. Think of it like the last things on buying a car. Dealer won’t budge on price but you get them to throw in 4 oil changes(closing costs). Dealer moves on price but won’t do oil changes. Closing costs get paid it’s just a question of how both sides structure the deal.
When we bought our house we negotiated and the seller covered 3% of our closing costs. It was a buyer’s market at that point.
Typical deal is that seller pays for realtor fees. Buyer pays closing costs.
Just purchased my first home. Seller paid realtor fees and 2/3 closing costs. We were on the hook for 1/3 of closing costs. Felt good about that! In addition to getting the house!
We have been trying to sell a lot that we have for years and have never gotten a nibble. We finally got a full price offer with us paying the closing cost. When a lower offer could have been made and splitting closing cost could have been an option, I had no problem paying the closing costs as the seller.
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