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Updated almost 9 years ago,
Seller Covering Closing Costs
Hi Everyone!
Probably a bit of a newbie question here but I'm curious as to how common it is that sellers are willing to cover closing costs. I'm well aware that it happens and I'm sure there's no true "norm" to speak of but I'm wondering how "reasonable" a request this is. If so, are there some good strategies to incentive a seller to agree to this. I've heard of buyers agreeing to the asking price such that the sellers covers closing but are there any others?
Some background info on me: I'm a new investor in Milwaukee WI looking to get an FHA loan on a 2-4plex within the next year+ as my first deal. I will have the capital together this summer to cover a down payment plus the additional mortgage insurance required on an FHA but would struggle to cover closing costs until next year. I could theoretically accelerate this purchase a bit by pushing closing costs onto the seller.
Thanks in advance for the feedback! Any other advice on the plan above is greatly appreciated as well!