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Updated 11 months ago on . Most recent reply

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Wesley Frye
  • New to Real Estate
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Paying the buyers closing costs?

Wesley Frye
  • New to Real Estate
Posted

Is it common for a house flipper to pay a buyer's closing costs? I have just listed my 1st flip for $220k and got an offer for the asking, but the buyer wants $8k for their closing costs. I was unwilling to pay the $8k and agreed to $4k. The buyer's lender now says that the buyer needs $8k to close and upped their offer to $222k vs the original offer of $220k. The house has been on the MLS for 10 days, and I am now questioning whether I should accept this offer. I want to entertain more offers because of the $6k in closing assistance, but I want to get out of this house and get on to the next.

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Theresa Harris
#3 Managing Your Property Contributor
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Theresa Harris
#3 Managing Your Property Contributor
Replied

I'd tell them if they want you to pay $8K in closing costs, then they need to up their offer to $224K to cover the extra $4K in closing costs.

What does your realtor suggest?

  • Theresa Harris
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