A Quick Word on Closing Cost Credits
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When a seller pays a buyer's closing costs, what are they actually paying for? Find out today.
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When a seller does cover a buyer’s closing costs, these funds are usually taken out of the total list price rather than paid out directly.
Sellers cannot contribute to the buyer’s down payment.
”The reason this distinction matters is that sellers cannot contribute to the buyer’s down payment. The buyer must provide these funds themselves.
So when a buyer asks for closing costs, they aren’t actually asking that every bit of their closing-related expenses be paid by the seller.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
22 episod