Buying A Home
lildevil968
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Question for sellers
Did you pay all closing costs, half, or no closing costs? We are in the process of putting our house on the market, hopefully we will be on the market by the weekend. Closing costs is something that we are mulling over because we are going to lose money, and pay out of pocket at the closing table.
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Re: Question for sellers
I think the answer really depends on what the market is like in your area and what the customs are. What does your agent say?
In our area it's fairly customary for sellers and buyers to split the closing costs. However, highly desirable properties (good location and priced to sell quickly) will have multiple offers within a week or two of going on the market, and those sellers are not paying closing costs. Our friend sold his home last year, fully renovated at a good price point, in 10 days and didn't pay any of the buyer's closing costs. Likewise, we bought in a multiple offer situation (3 offers in the first 5 days) and paid our own closing costs. '
We sold this past summer. We had 4 offers on our home and all asked for 3% in closing costs. We had one offer that was 8K more than our asking price. We accepted their offer and negotiated to pay 1.5% in closing costs. This still worked out to us receiving $5k more in the end than we would have if we had a full price offer and paid no closing.
Our agent told us that pretty much everyone asks for closing these days but if you get multiple offers that is usually the first thing that the seller counters and asks to do away with.
Good luck.
Thank you ladies for the responses. Our realtor will be coming by tomorrow night, so I will definately ask her then. Thank you so much!!