A home purchase is an enormous transaction and negotiating the best price and terms is a vital part of the process. Asking the seller to pay closing costs is one way to reduce the net and sweeten the deal for a buyer... in concept. In actuality, this is still a little to vague to get the job done. Most importantly, the most significant costs for both buyer and seller don't appear in the purchase contract.
- Are you trying to improve the deal, arrange enough cash to close
- Seller's care more about their net proceeds
- Know what is ordinary & customary in your County
- Negotiating costs that are not customary raises eyebrows
- Loan fees are not in the purchase contract
- Seller credits can help meet cash requirements (and pay loan costs)