Should You Pay the Closing Costs as a Seller?
- 10 October, 2015
- By Admin: sfesyuk
Is it good for the seller to pay the buyer’s closing costs? A lot of sellers say they absolutely will not do so, and my question for them is, why not?
As a seller, the most important thing you want to think about is what you want to net. It’s not about how much money you get, it’s about how much money you keep.
Here’s a very common scenario. Let’s say you had a house to sell and you want to net $100,000. Let’s say a buyer wants to buy your house, and they have good credit, a good job, and they can get a mortgage, but they don’t have a lot of cash for the closing. Would you let them buy your house for $106,000, and then give them $6,000 for their closing costs? You would still net the $100,000!
At the end of the day, it’s absolutely fine to pay a buyer’s closing costs as long as you hit your net number. If you can hit your net number, then I say pay the closing costs. If not, it’s back to the negotiating table.
Just remember that it’s all about your net number. If you have any questions, give me a call or send me an email. I would be happy to help you!