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One excellent way to reduce your down payment

March 5th, 2015 3:04 PM by David Tehrani-NMLS ID #241609

We often hear the question "Who is supposed to pay for closing costs, the buyer or the seller? Traditionally there are closing costs on either side. In today's market we are seeing a lot of contracts coming in where the buyer asks for closing costs to be covered by the seller. Certain mortgage programs allow up to 6% seller concessions.  Often the Realtor can increase the purchase price so that the net difference to the seller is the same. When the sellers are able to offer closing costs to the buyer it does open up some more affordability, a larger buyer base, and many times a higher net sales price to the home seller.
Posted in:Home purchase
Posted by David Tehrani-NMLS ID #241609 on March 5th, 2015 3:04 PM


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