Closing Cost?????????? - Posted by GaryO

Real Estate Investing
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Posted by GaryO on March 08, 2002 at 16:37:52:

Thanks for the info. I was thinking about doing almost the same thing, offering a slightly lower price but throwing in the closing cost. Glad to see that it worked for somebody.
~Gary

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Closing Cost??? - Posted by GaryO

Posted by GaryO on March 07, 2002 at 17:31:23:

I was wondering how you get the seller to pay the closing cost? I find it hard to say I’ll offer you $75,000 all the cash for the house that you are listing for $100,000 and you pay all the closing cost. How do you handle this?

Thanks CRE Online Community!!!

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Re: Closing Cost??? - Posted by Mark (WV)

Posted by Mark (WV) on March 08, 2002 at 16:11:34:

Gary, I made a offer on a estate house 2 weeks ago , previous offer of 27 for another invester was turned down.

My offer was $6,200 ,yes that anint a typo , of course it was very quickly turned down.I countered at the same price,$6,200 but I throwed in the closing cost.

Offer was agreed to !! Closed today final cost was $7,811 . Why they took one and not the 27k ?Beats me must have been scared the closing cost would eat all the money.
Mark (WV)

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Re: Closing Cost??? - Posted by Tim Fierro (Tacoma, WA)

Posted by Tim Fierro (Tacoma, WA) on March 07, 2002 at 18:56:04:

It is all in the negotions. You ask. Everything is negotiable, including closing costs. Even if it is hard for you to say it, you need to get over that. It may be hard for you to ask, but they may be willing. Ask and find out. Put it in your offer and see what they respond with. What’s the worst they could say? No?

I remember reading something like;

If you are not embarrassed by your offer, you are paying too much.

Don’t be afraid to make the deal work for you and try to get the best deal you can. Be the negotiator. If closing costs break the deal, walk away. If it is not a deal breaker, pay your share and don’t worry about it. As long as your numbers work out with all costs, you will be fine.