I always stress to my Buyers, real estate is different in every state. Don't presume things are done in Georgia the way they are done in ____________-(fill in your state.)
If you are a Seller, you've already purchased that home in Georgia so you know about the process. But the question is....
Who Pays the Closing Costs in Georgia?
And the answer is.....it depends.
It is not uncommon for the Buyer to ask the Seller to pay all, or part of the closings costs associated with the Buyer's mortgage to purchase the home or condominium. We won't dive into what all the closing costs are, but they relate to any of the monies necessary for the Buyer to get their mortage and close, as well as other costs like HOA Capital Contribution, etc.
But, this is a negotiation point when making your offer! It is by no means any kind of guarantee. In the tight Seller's market that we are experiencing in Atlanta, asking the Seller to pay closing costs could equal you losing out on that home you really love. If the next Buyer (or in the case of multiple offers) is not asking for any closing costs, and you are, that could be the difference that has the Seller select the offer other than yours.
Now, I understand that maybe you have your down payment, but these other costs (or the money to pay for them) is not hanging out in your savings account! And you may need that financial assistance from the Seller to purchase the home. If that's the case, then we may have to look for another home where the Seller is willing to offer this option. There are also numerous down payment assistance programs that you may qualify for that will further help with this!
As part of our Initial Buyer Consultation with you, we'll discuss this part of your finances as well as give you contact information for our Team Lenders. They can give you more specifics on your loan and closing costs, and we can discuss the monies you will need, along with your down payment to purchase your new home or condominium.
But as your Buyer's Agent we will work with you to get the best possible offer together and help you buy your new home!