Comments on: A buyer always pays their closing costs, somehow http://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/ Wed, 08 Feb 2012 18:56:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Break your big goal into chunks | Sense to Savehttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40782 Break your big goal into chunks | Sense to Save Wed, 20 May 2009 14:49:53 +0000 http://sensetosave.com/?p=1172#comment-40782 [...] costs - Yes, we can finance a portion of this, but we’d rather not so we can save money over the long [...] [...] costs - Yes, we can finance a portion of this, but we’d rather not so we can save money over the long [...]

]]> By: Lisahttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40585 Lisa Tue, 05 May 2009 16:51:33 +0000 http://sensetosave.com/?p=1172#comment-40585 When we bought our house in Oklahoma, the seller was desperate to sell because of divorce, so they paid half of our closing costs. We financed the other half. This may be uncommon, but something worth checking into! When we bought our house in Oklahoma, the seller was desperate to sell because of divorce, so they paid half of our closing costs. We financed the other half. This may be uncommon, but something worth checking into!

]]> By: Kaciehttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40564 Kacie Fri, 01 May 2009 20:14:44 +0000 http://sensetosave.com/?p=1172#comment-40564 A $800k house blows my mind. I am so glad we live in an area where prices are much lower! If you moved out this way, you could get one heck of a house for 3/4 mil. A $800k house blows my mind. I am so glad we live in an area where prices are much lower! If you moved out this way, you could get one heck of a house for 3/4 mil.

]]> By: Woogiehttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40563 Woogie Fri, 01 May 2009 18:22:44 +0000 http://sensetosave.com/?p=1172#comment-40563 What a great post! I've really been enjoying following your house buying experience. I wish we were in a position to buy a house! Unfortunately, my husband has another two years in grad school, and houses cost at least $800k here!! (at least, it is down from $1M) Can you imagine the closing costs on that?! What a great post! I’ve really been enjoying following your house buying experience. I wish we were in a position to buy a house! Unfortunately, my husband has another two years in grad school, and houses cost at least $800k here!! (at least, it is down from $1M) Can you imagine the closing costs on that?!

]]> By: Kaciehttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40562 Kacie Fri, 01 May 2009 17:36:37 +0000 http://sensetosave.com/?p=1172#comment-40562 It definitely changes things a bit! I only had a vague idea of what "closing costs" meant, and now that I know...wow. I can see why it makes sense for people to stay in their house for several years, because it will take quite awhile to recoup that money. And, paying all of those taxes and insurance upfront really eats up our savings. It definitely changes things a bit! I only had a vague idea of what “closing costs” meant, and now that I know…wow. I can see why it makes sense for people to stay in their house for several years, because it will take quite awhile to recoup that money. And, paying all of those taxes and insurance upfront really eats up our savings.

]]> By: Trixiehttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40561 Trixie Fri, 01 May 2009 14:11:31 +0000 http://sensetosave.com/?p=1172#comment-40561 Hi Kacie,You bring up a very good point! This has been very common for the past several years. In the "olden days" banks never allowed this -- which might by why so many people find themselves upside down on their mortgages...We sold a home in town last fall to a man that makes upteen times more money in a year than my husband and I do. You know what? He didn't make any down payment what-so-ever AND he walked out of the closing office with the keys to a home AND a fat check. My husband and I just could not believe it. The BUYER walked out with a check?!I just wanted to say -- it is so great to see you guys being so responsible by doing the research and really understanding what it means to have the seller pay closing costs.Blessings,Trixie Hi Kacie,

You bring up a very good point! This has been very common for the past several years. In the “olden days” banks never allowed this — which might by why so many people find themselves upside down on their mortgages…

We sold a home in town last fall to a man that makes upteen times more money in a year than my husband and I do. You know what? He didn’t make any down payment what-so-ever AND he walked out of the closing office with the keys to a home AND a fat check. My husband and I just could not believe it. The BUYER walked out with a check?!

I just wanted to say — it is so great to see you guys being so responsible by doing the research and really understanding what it means to have the seller pay closing costs.

Blessings,

Trixie

]]> By: joannahttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40560 joanna Fri, 01 May 2009 13:08:38 +0000 http://sensetosave.com/?p=1172#comment-40560 Great post! We paid all the closing costs ourselves, and I wish I had known how much of our "down payment fund" was going to end up going toward closing costs. We still had enough for the down payment we wanted, but the final closing costs were higher than we had anticipated. It's definitely something to research while working to save up enough for a down payment. Great post! We paid all the closing costs ourselves, and I wish I had known how much of our “down payment fund” was going to end up going toward closing costs. We still had enough for the down payment we wanted, but the final closing costs were higher than we had anticipated. It’s definitely something to research while working to save up enough for a down payment.

]]> By: Karenhttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40559 Karen Fri, 01 May 2009 13:04:46 +0000 http://sensetosave.com/?p=1172#comment-40559 Yikes. I had no idea! Every once in a while I'll look at houses out of curiosity even though we can't buy one at least until after we move. Prices are cheap right now, but once you add in all those closing costs it really does hike it up quite a bit! I had no idea there were so many added costs! These fees definitely aren't included in the super low home prices I've seen. Yikes. I had no idea! Every once in a while I’ll look at houses out of curiosity even though we can’t buy one at least until after we move. Prices are cheap right now, but once you add in all those closing costs it really does hike it up quite a bit! I had no idea there were so many added costs! These fees definitely aren’t included in the super low home prices I’ve seen.

]]> By: FB @ FabulouslyBroke.comhttp://sensetosave.com/2009/05/01/a-buyer-always-pays-their-closing-costs-somehow/comment-page-1/#comment-40558 FB @ FabulouslyBroke.com Fri, 01 May 2009 12:20:30 +0000 http://sensetosave.com/?p=1172#comment-40558 Thanks for the heads up.I always assumed if they pay the closing costs, my mortgage would NOT go up by the amount they paid.. tricky wording there. Thanks for the heads up.

I always assumed if they pay the closing costs, my mortgage would NOT go up by the amount they paid.. tricky wording there.

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