Is the closing cost paid the same way in every state?

[Juan Carlos]

Good Day BP community!

I hope everything is doing great. So as the title entails, we have a question about the closing cost of a property. Today I was talking to a friend of mine that used to work as a real state agent, and I asked her about the percentage of closing cost in Buffalo, NY. And she said I did not need to worry about it as a buyer, that the seller covers it. And used this example:

“If you buy a house for 100,000, 3% out of that 100,000 goes to buyers agent, 3% percent out of that goes to sellers agent. So the seller then proceeds on 94% of the sale price.

Sale price:

Buyers agent commission: 3,000

Sellers agent commission: 3,000

Seller proceeds: 94,000

It’s not an additional fee, it’s included in sale price and that’s how it works everywhere.”

So we’re just wondering how accurate that is? Because from what we’ve read in books and learned from Brandon’s webinars. The buyer pays the closing cost, which is usually 1-2% of the purchase price.

Thanks,

The Brothers