Canyon Lake Home Buyer's Guide Tip of the Month Texas

Can You Get the Seller to Pay Your Closing Costs?

Sometimes to help a home sell more quickly, sellers will volunteer to pay the buyer's closing costs. Whether the seller volunteered or not, you can ask for part or all the closing costs to be paid for you in your offer to purchase.

Here are some negotiating tips: Decide in advance the highest price you will be willing to pay. Once the negotiations begin, it can be confusing and emotional.

In your negotiations, attack on more than one front at a time. For example, if you have concluded you want $10,000 off the asking price, offer $6000 below the asking price, $3000 closing costs to be paid for you, and $1000 worth of window treatments. By raising all these issues at once, you will get movement on all three fronts which generally gives you a greater reduction than a single "price war."

In make your price offers, always round up. Rather than offering $119,800, offer $120,000. (This is the reverse of the seller's ploy of pricing his home at $149,900 rather than $150,000.)

Remember, you are negotiating many things besides just dollars. Closing and possession are often worth just as much as money to the seller. If you can fit his closing date, you may get a lower price.

Your agent is worth his weight in gold at the time of offers and counteroffers. A good agent retains her composure, never insults the seller or sellers' agent, "sells" you and your offer to the seller, and saves you money in the process.