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…
Split it!
Buyer pays half seller pays half and tell them it is what it is!!
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.
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…