Who Pays The Closing Costs ?

Who Pays The Closing Costs?  Image CanStockPhotosWho pays a home sale closing costs can be complex.  Each type of loan (FHA, VA, Conventional) and cash can have the home seller and buyer paying different items. Additionally, there may be other costs for HOA documents, surveys or other real estate related closing costs.  This chart provided by Hexter-Fair First American Title shows who “customarily” pays various costs.

As with everything in real estate, these things are negotiable or can be off-set by a seller assist in whatever amount is agreeable. However, in our current very hot seller’s market it seems like what was normal is not normal anymore.  Seller’s are digging in, expecting list or above asking price and expecting the home buyer to pick up a larger share of the transactions cost.

For example, while always negotiable it was pretty common for the seller to pay for the title policy and any home warranty and buyers often paid for the survey.  The logic was the seller is proving he has good title & wants to relieve any repair fears. The buyer wanted to be sure that acre was really an acre so they each paid accordingly.

That can be completely out the window in today’s market. Seller’s with multiple offers are in the driver’s seat and are demanding that buyers pay for everything.  This will all change when the market become more balanced but for now just remember that price is only one consideration of many when submitting or evaluating an offer.

Contact Keith Laursen at 469-233-1234 for guidance on buying or selling your dream home and structuring the transaction in your best interests.


About Keith Laursen

I am a Fathom Realty Realtor specializing in town and country properties in the cities of Van Alstyne, Anna, Melissa, Howe, Gunter, Tom Bean, Whitewright, McKinney and Plano, TX.

My trusty horse and I will help you "spot" the best in real estate. Remember, it can't sell if it's not spotted!
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