Closing Costs Question

[Nicholas Leone]

This may be a naive question but I'm going to ask it because I don't know the answer. Can I reduce closing costs as a buyer if I use seller financing in lieu of conventional financing? Can I offer a bit more on the property if we use seller financing?

I'm looking at a property and the seller is willing to sell for $X. If my closing costs would be reduced if the seller agrees to carry a note in lieu of a traditional mortgage, can I offer a bit extra on the purchase price? It would be a win/win as my total costs could be reduced while more money goes to the seller (instead of a bank).

Any insights on this, please let me know. Thank you!