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re: Let's talk closing costs for home buyers
Posted on 3/20/16 at 4:57 pm to dualed
Posted on 3/20/16 at 4:57 pm to dualed
It's mainly driven out of practicality in my experience. The first time home buyer doesn't have the necessary cash for down payment AND closing cost majority of the time. So I slightly inflated sales price is agreed upon and it's essentially taken out of the sellers equity. Simple as that really.
1
Posted on 3/20/16 at 5:02 pm to TigerDeBaiter
As long as the house appraises for the inflated price.
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