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closing cost

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Anonymous
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closing cost

when making an offer with closing cost the realtor told me i am still financing the money they aren't really giving me anything i thought it would decrease the amount of the loan 153 -20(downpayment)borrow 133 she said they would add the 9000 closing cost to the loan. can somebody explain please this is confusing me

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1 REPLY 1
lkcrew426
Regular Contributor

Re: closing cost

If you make an offer to have the seller pay your closing costs(and they accept) - then you don't have to pay them out of pocket or finance them. The seller is responsible for those costs. However, if they accept your offer of $153k and pay $9k in closing costs then perhaps they would've accepted an offer of $144k if they didn't have to pay the closing costs . . . I think that's what the realtor is trying to explain.

Message 2 of 2
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