Can the seller pay closing costs?

One big concern that many people have when buying a home is the price of closing costs. Closing costs can be additional thousands of dollars on top of the down payment and other fees associated with buying a house. However, there are situations in which the seller may offer to pay some or all of the closing costs on behalf of the buyer. Another option for buyers to have someone else pay closing costs is if the home is a new construction. For example, sometimes, the builder of the new construction will offer to pay some or all of the closing costs because it is a good incentive for people to buy, which can allow the builder to move on to the next property. In other cases, the builder and the mortgage lender will split the closing costs. Regardless of which way fits your situation, it is important to know that as the buyer, you may not have to pay all of your closing costs, if any. Of course, it is important to discuss this with an experienced real estate attorney who can help you negotiate for someone else to pay your closing costs. If you need an experienced real estate attorney, contact our firm today.

Joseph Gachko, Esq. is an experienced New Jersey attorney who can assist you in any of your estate or real estate-related legal matters. If you require legal counsel for your real estate matters, please contact The Law Office of Joseph Gachko today to set up a consultation.