Even as our local Olympia area real estate market is tilting more and more toward being a seller's market, buyers asking for a credit toward their closing costs are not uncommon. In some price brackets, it's still very typical to see a buyer ask... and a seller agree... to pay some or all of the buyer's closing costs.
But that money for the credit does NOT grow on some wonderful tree - it basically comes out of the seller's pockets at closing. Every dollar a seller pays on behalf of the buyer for closing costs reduces the net that the seller will see from the sale.
And more than once I've had to explain this to buyers who have heard it's "normal" to ask the seller to pay their costs (along with the seller's own costs). They just haven't given any thought to where exactly that credit comes from.
So, in a competitive market like we have, it may be "normal" to ask the seller to pay your closing costs, Mr. and Mrs. Buyer. But since that credit is already a reduction to the seller, know that expecting a closing cost credit AND a big reduction in price as well.....just may not get you the house you want.
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