When buying a home, many people worry about being able to pay the initial out-of-pocket costs. With the burden of having a large down payment, the extra closing costs can cause people to have to wait on buying their home. However, it can work out in the best interests of both the buyer and seller for the seller to pay the closing costs of the property, helping you complete the sale. Keep these scenarios in mind so that you can get help paying your closing costs.
Give Them What They Ask For
Sometimes, making an offer at (or near) the seller’s asking price can benefit you more than offering a lower price point. If the seller is looking for a minimum amount of profit from the property, meeting their asking price could make the seller more likely to help out with closing costs. This way, you can incorporate the extra cost into your mortgage and spread it out rather than paying it all upfront.
Help Their Timeline
Another time that the seller would be open to helping with closing costs is if they are looking to move out and get the deal done quickly. If they have already begun a mortgage on a new home, speeding up the sale process is in their best interest, and they would be far more likely to help you out with any closing costs. A seller would also be open to helping pay closing costs if you are willing to accept the home as it stands without causing trouble during the inspection period. A little give-and-take in this area can go a long way in your negotiations.
Work With a Real Estate Professional
While getting a seller to pay closing costs is very common to mortgage transactions, in most cases, you would benefit greatly from having a real estate professional go to bat for you. We recommend working with a Realtor for many reasons. Among those reasons is that they are trained to negotiate and know how to take the emotion out of the process. Their goal is to get the best deal for their customer and studies have shown that buyers and sellers alike benefit from working with such professionals.
Mortgage Experts in Central Florida
Buying a home is an exciting event, but it can come with a lot of stress when figuring out how to finance it all. Here at Butler Mortgage, we have been helping families for over 25 years! Let us help you navigate the loan process and make sure you end up with the home of your dreams. Contact us today at 407-931-3800 and get a free consultation.