Canton MA Events and Real Estate


Buyers Closing Costs

Buyers Closing Costs

As a Buyers Agent working in Canton MA, Milton MA and surrounding Norfolk County communities, buyers will often ask me if it is realistic to ask the Seller to give a credit for closing costs.  Sometimes they think that the closing cost credit is only found in lower priced communities or transactions. However, closing costs can definitely be a part of the negotiations in any transaction.  There are two issues to consider.

Seller's Bottom Line:  Remember, that the Seller is looking at the bottom line or what they will get at the end of the day.  Buyers need to remember that a $350,000.00 offer with a $3000.00 closing cost credit will only net the Seller $347,000.00.  It seems obvious but often that piece gets lost.  So, always consider the other end of the transaction when figuring out your offer and any requested credits.

Buyer's Consideration:  Buyers need to balance their mortgage amount and monthly payment against the need (or desire?) to have a credit at closing to free up cash in hand.  Once you have realized that the closing cost credit needs to be figured in to the purchase price, remember that it also figures in to your mortgage amount.  In the scenario above, the Buyer's mortgage amount is based on a certain percentage of $350,000 - not $347,000.00.  The mortgage would be less than if they just paid $347,000.  So, think about what is most important - or necessary - for you to make this transaction work?  Is it the monthly payment or mortgage amount or is it funds needed to close?

Remember to consider all of the options and impact to price and payment when deciding whether to make a closing cost credit part of the transaction.  It is a viable option is almost any transaction.

For assistance in negotiating the ins and outs of buying a house in Canton MA, Milton MA or a surrounding Norfolk County community, contact your Canton MA Buyer Agent.


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The content provided on this blog is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. 


Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field. 


(c) Copyright 2010-2015 Christine M. Smith, Attorney and Buyer Agent. All rights reserved.

Comment balloon 4 commentsChristine Smith • May 21 2011 09:53PM


Christine ~  You make excellent points.  In the environment of this market, it's imperative to remain flexible and to be able to think outside the box.

Posted by Tish Lloyd, Broker - Wilmington NC and Surrounding Beaches (BlueCoast Realty Corporation) over 9 years ago

Good morning, Christine....we're listing agents and as you stated, it's a viable option in almost any transaction..... we advise our sellers of this....flexibility, as Tish stated, is very important to continue to move property....

Posted by Barbara Todaro, Previously Affiliated with The Todaro Team (RE/MAX Executive Realty - Retired ) over 9 years ago

Excellent points, Christine.  While the outcome may be the same for the seller, it is different for the buyer so i't simportant to think abt immediate vs. long term benefit.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) over 9 years ago

Tish & Barbara....flexibility is so important to both buyers and sellers.

Thanks Debbie.  Sometimes buyers forget that getting one thing may cost them on the other end.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - over 9 years ago

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