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Updated almost 7 years ago on . Most recent reply

Patrick Philip's profile image
Patrick Philip's profile image
Patrick Philip
  • from Florida
  • Member since Aug 18, 2016
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Patrick Philip's profile image
Patrick Philip's profile image
Patrick Philip
  • from Florida
  • Member since Aug 18, 2016
Connect
Patrick Philip
  • Florida
107
Votes |
912
Posts
Rehabbing & House Flipping

Is it normal for seller to pay buyers closing costs?

Patrick Philip
  • Florida
Posted

I listed a house for sale several days ago for $169,000. I got an offer 3 days later for $200,000(!!!).

While reading the purchase agreement, I noticed an additional clause that said that I was to pay up to $3,000 of the buyer's closing costs.

I still agreed because I was extremely happy to have gotten $31,000 more than I listed for, but is this normal?

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Jason Lavender's profile image
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Jason Lavender
  • Flipper/Rehabber
  • from Wichita, Kansas
  • Member since Jul 23, 2017
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Jason Lavender's profile image
Jason Lavender's profile image
Jason Lavender
  • Flipper/Rehabber
  • from Wichita, Kansas
  • Member since Jul 23, 2017
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Jason Lavender
  • Flipper/Rehabber
  • Wichita, KS
119
Votes |
152
Posts
Jason Lavender
  • Flipper/Rehabber
  • Wichita, KS
Replied

Buyers routinely ask for seller to pay closing costs. You don’t have to though. Congrats on the profit! Was this property that underpriced or just a fluke buyer?

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