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Author Topic: Closing Cost  (Read 2377 times)

Offline sigmamason

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    • Woody Properties, LLC
Closing Cost
« on: September 05, 2006, 09:54:57 am »
All,

This might be a dumb question, but if I don't ask, it won't get answered...
who pays closing cost? I have a number of "investors" who either want the seller to pay closing or they want me to pick it up out of my fee.
I know that I am not gonna kill my fee which I keep reducing trying to move these houses.
Having done a few mortgages in my time, I am taking the stance I don't know this business (wholesaling) well enough to take the stance that the buyer should pay or the seller should pay, I just know that I am not going to pay.
Any insight or help is appreciated...
« Last Edit: September 05, 2006, 09:56:17 am by jwoods1914 »
Thanks
Juan Woods, MBA
Woody Properties, LLC/Park Avenue Mortgage, LLC [email protected]; [email protected]

Offline reoconsultants

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Re:Closing Cost
« Reply #1 on: September 05, 2006, 10:39:36 am »
Split it!

Buyer pays half seller pays half and tell them it is what it is!!

Offline DannyTheGreat

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Re:Closing Cost
« Reply #2 on: September 05, 2006, 12:53:11 pm »
Normally the buyer pays. I prefer the seller to pay when I buy, and the buyer to pay when I sell  ;). In a slow market you'll see more listings with the seller offering to pay the buyer's closing costs.
"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor

Offline sigmamason

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    • Woody Properties, LLC
Re:Closing Cost
« Reply #3 on: September 05, 2006, 01:29:00 pm »
Thanks guys for the insight, unfortunately, I am running into sellers that want no closing cost or buyers that want no closing cost or buyers that for the assignment fee want me to absorb closing cost.
After I estimate the closing cost based upon their scenarios, I realize that I am upside down to the point where I would rather be a real estate agent instead...
Thanks
Juan Woods, MBA
Woody Properties, LLC/Park Avenue Mortgage, LLC [email protected]; [email protected]

 




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