Understanding Seller Paid Closing Costs
Seller Paid Closing Costs are negotiated between a home buyer and home seller during the initial offer process and are written into the sales agreement. Seller Paid Closing Costs are also called Seller’s Assistance. If the Seller Paid Closing Costs are not written into the contract then they don’t exist and will not be credited to the buyer at the settlement. Call 302-703-0727 to get pre-approved today and find out how much seller paid closing costs you will need or APPLY ONLINE
It is very important to understand that when you ask for the seller to pay money toward your closing costs that the seller is taking this money off the purchase price to give to the buyer at closing. For Example if you offer the seller $200,000 for their home and ask for $10,000 in seller paid closing costs, you are really only offering the seller $190,000 for their home.