Should the Seller Pay for Closing Costs? 2021 Update
August 16, 2021
Closing costs constitute some of the most opaque parts of the home buying process. As you’re looking to sell, you might find yourself wondering exactly what it is that you owe to the buyer. What do closing costs entail, and who pays for them? We’re here to demystify this process. What Constitutes Closing Costs? When you’re closing on a home from the buyer’s side, you’re likely looking at some serious up front charges, and not just the down payment. Buyers also pay for the inspection and appraisal, and put down earnest money (typically 1% of the sales price in our area). That’s some serious cash! On the seller’s side, expect to pay half of the escrow and owner’s title insurance....
