Bank owned home question

[butterflyblu]

Do banks ever help with closing costs when buying a bank owned?

[StartingOver10]

If it is bank owned, you have to ask for the seller contribution toward your closing costs & pre-paid expenses right up front in your offer. Yes, they can contribute. Typically they max out at 3% of purchase price for seller contribution. The seller bank goes right to the bottom line when responding to offers so keep that in mind.

[bobvette]

We bought a bank owned home from Sun Trust.  The house sold for $314,000.00 and I agreed to finance it through Sun Trust, in exchange, they paid every penny of my closing costs.

[butterflyblu]

Thank you