At Team Nelson, our Flower Mound real estate agents know that in many cases, potential home buyers do not realize the costs involved in purchasing a home. Some of the costs you may not be aware of include home inspection, appraisal, loan application fees, and closing costs. In certain situations there may also be costs for new furnishings, or to paint or renovate the home.
Closing costs are often misunderstood by home buyers, who may assume that the seller always pays these costs. What are closing costs? Essentially these are a mix of fees from the real estate agent, lender, title company, etc. What all is included in closing costs varies depending on your situation.
It’s hard to determine without the assistance of an experienced Dallas realtor which costs you will be responsible for, and which will be covered by the seller. In many cases, closing costs are one aspect of the negotiation process.
Sellers do not always pay closing costs; much of who pays is determined by your offer, and how much the seller will net from the sale. For instance, if after considering your offer the seller finds the price is where they need to be, they may consider paying closing costs for you in order to close the sale. Ultimately, whether the seller will pay depends on various factors.
Because of the uncertainty, it’s a good idea to discuss the best way to approach closing costs with your real estate agent. It is important that you consider closing costs when writing up an offer for the home that interests you. Would you rather closing costs be negotiated into the selling price? Most home buyers would rather the seller pay so that they have room in the budget for decorating, furniture, etc.
At Team Nelson, we’re ready to answer all of your questions regarding closing costs and other costs involved in buying a Flower Mound home. We want to make the process of buying a home as simple as possible!