If a buyer wants you to pay their closing costs, can you increase your selling price by that same amount?

Answer 1

Yes
The house must appraise for that amount.
Also some lenders will only allow a certain amount of costs.
Also what closing costs? Lender Fees,Escrow,Title,
If you are selling without an Agent ask the lender for a good Faith Estimate so you can get the correct amount of costs on the contract.
Make sure the contract reads "Seller to pay up to $6000.00 in Recurring Closing costs" Of course put your own Dollar amount in there.
Lenders will not give the buyer money back if it is wrong.

Answer 2

That is all part of the negotiations. If you haven't given a firm price you could ask for that increase. The beauty from the buyer's point of view is that they are not out of pocket for those costs in the short run. The money becomes part of their mortgage in the form of the raised price. That might make it more palatable.

However in today's lousy real estate market where most people are just hoping to get any offer no matter how insulting, I am not sure you should be fooling around with the possibility of losing a buyer. But if you do offer to pay them, put a cap on how much you would pay. Otherwise the buyer might try to work a deal with the mortgage company of paying higher closing cost in return for a lower interest rate - since closing is coming out of your pocket.

Answer 3

Yes. The following must happen.

1. The Buyer Must Agree
2. It must be included in the contract
3. The home must appraise for the full price including the closing costs
4. The concession appears on the HUD-1 closing documents.

Answer 4

In most states you can allocate closing costs however you want. And you can certainly negotiate whatever purchase price you want, so in theory you can do this. The real issues are:
Will the buyer will agree to an increased purchase price? If they do, then they will need to make sure that their lender does not have an issue here (if you think about it, in your proposed arrangement they are essentially paying their own closing costs and rolling most of that into their loan). I would not suspect that most lenders would notice or care about this.

Answer 5

It's a negotiation. You can counter-offer whatever you want. Have you had a tough time selling the property? If so, you may want to agree. If not, propose a higher price, or offer something else as a sweetener.

Or just refuse the offer with no counter-offer.

Answer 6

the situation is, it relatively is a shoppers marketplace and there are not many people who're able to purchase a house top now. Sooo i'd say high-quality with the 225K. there'll particularly much surely be a counter, (the broking can refuse, counter or settle for). you would be able to additionally decide for to evaluate offering much less. the broking would counter, yet particularly much surely won't refuse. in spite of the fact that in the event that they decline, you probably can place yet another furnish. shop around for loans. i does no longer propose getting one on line, yet you are able to surely shop around for one so as which you already know what somebody could be offering you. How's the area of the domicile you're interested in? i can not say adequate how the main mandatory situation in procuring a house is area, area, area.

Answer 7

Not if the buying (or selling) price has already been set (in writing or in an agreement).

Answer 8

Of course you can - Its your house, you can ask for any price you want for it. That doesn't mean you will get it.

Answer 9

Are you thinking of a seller's concession?