Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago on . Most recent reply

User Stats

209
Posts
37
Votes
Adam Roberts
  • Investor
  • Fort Worth, TX
37
Votes |
209
Posts

Paying all seller closing costs & contract language

Adam Roberts
  • Investor
  • Fort Worth, TX
Posted

Team -

I'm in the midst of getting a SFR under contract in Keller, TX area and seller has finally agreed to my price in exchange for me paying all of their (seller) closing costs. Basically they named the price that they want to walk away from closing with and expectation is I cover the net difference.

My question is this: while I am pretty certain that the closing costs will comprise of the typical costs (attorneys fees, title fees, etc), should I be protecting myself from any unknown closing costs that may be a surprise when I get to the table, by way of language in our written contract? I have never been surprised by this, but it seems like something that could be an "unknown" when I agree to pay their closing costs "in general".

Thanks

Adam R

Most Popular Reply

User Stats

21,918
Posts
12,876
Votes
Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
12,876
Votes |
21,918
Posts
Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

That works for a buyer having costs paid, when it's the seller having costs paid set a net price to be received. Buyer to pay seller's usual and customary settlement costs to net seller $87,500.00, costs subject to buyer's approval.

You can also request the HUD-1 be available the day prior to closing. :)

Loading replies...