Seller Paid Closing Costs In Woodbridge VA
What Are The Advantages Of Seller Paid Closing Costs To The Buyer?
What Are The Advantages Of Paying The Buyer's Closing Costs To The Seller?
If you are a buyer or a seller, there are advantages to you for the seller to pay the buyer's closing costs.
Advantages of seller paid closing costs to the buyer:
Closing costs in Virginia run 2.5% - 3% of the cost of the house. The primary costs for buyers are fees to 
the lender to set up your mortgage.
If the seller pays some or all of your closing costs, that reduces the amount of money you need to bring to the table at settlement.
If you are a first time buyer, you can reduce your up-front costs of buying a house by thousands of dollars. For example, if a seller agrees to pay 2.5% of the sales price toward your closing costs on a $400,000 house, that means you can reduce your costs associated with buying the house by $10,000.
If you are using an FHA loan to buy your house, you will just need your 3.5% down payment to buy a $400,000 if the seller pays all of your closing costs.
Advantages to sellers of paying buyer closing costs:
When you sell your house, you want to attract a pool of buyers to your house, and hopefully, garner multiple competing offers for yourself.
If you offer to pay closing costs for a buyer, you may attract multiple offers that turns your home sale into 
an auction.
You will take the offer that gives you the best bottom line, even if that offer may not offer you the highest price. Forget about what the buyers are offering, and focus on the bottom line.
It's possible for the second highest offer to give you the most cash at closing, so go into negotiations with an open mind.
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