“When buying a home, who pays closing costs?”

This is a very common question that I get.

The buyer pays the closing costs. The cost that we’re referring to when we say closing cost are the cost that the mortgage company charges you to get your loan.

That also includes setting up your escrow account, so if you going to use your escrow for taxes and insurance, they will pad that account so there’s plenty of money in there to pay those bills for you. That does include your attorney’s fees.

Now, it is completely acceptable to ask for the seller to contribute towards some, or all of it, in some cases. It doesn’t mean that they will, but that is a buyer cost that you can negotiate.

A good realtor will be able to help you with that and explain if it’s going to be a situation where it would make since to ask for it. Obviously if you’re in a very popular property that’s moving very quickly, and has lots of people interested and lots of offers, it’s going to be less likely.

However, that’s another reason why it’s super important to find a great agent that can guide you. To answer the question, buyer closing costs is actually a buyer cost, not a seller cost.

 -Jessica Herrmann, Broker/Owner of Great GA Realty