Mistake #6

Mistake Number Six

Most Homeowners Underestimate Closing Costs: We already talked a bit about Closing Costs in “Mistake #5,” but who pays Closing Costs…and is this negotiable? First, there is no getting around Closing Costs…they need to be paid by someone. Second, of course they are negotiable. During my early house buying experience (my first 2 houses) I had to pay my own closing costs because I bought in a “seller’s market” and houses were selling at a premium. More recently (my last 2 houses) the seller paid for some of my Closing Costs. Right now, sellers need to be willing to pay ALL closing costs. Again, everything is negotiable…but don’t get hung up on whether or not you will help with closing costs. Remember, the only thing that matters when you walk away is…how much NET CASH Equity you receive! If you have to pay Closing Costs…pay the Closing Costs, just figure that into your fair asking price so you can sell as fast as possible.