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First time home buyer. Is asking a seller to cover 50% of closing to much to ask?

So I this will be our first home purchase. We have found a home we like. The home is a new construction and just got finished. the home is in a very desired location. We are thinking about putting in a offer on it and was wondering if asking the home owner to cover half of closing cost. would it be a good idea? we where thinking of offering his full asking price but just to cover 50% of closing. is this common of do sellers take it as a slap in the face? 
  • January 26 2014 - US
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Answers (4)

Profile picture for user63686346
Ok thanks for the info. my lend said the closing that I'd be asking the seller to cover would be 4k. 
  • January 26 2014
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Sellers look at the net amount to them - it doesn't matter usually, how that net comes about. If you are asking full price and your closing costs aren't astronomical, then most sellers wouldn't take it as a slap in the face. If you're offering a low price AND asking for closing costs, they might not feel slapped in the face, but they might not take your offer either. Ask your agent what he or she thinks about the amount you are offering and the amount you are asking the sellers to pay.
  • January 26 2014
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It rather depends, doesn't it?
  • January 26 2014
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Profile picture for wetdawgs
Some sellers will consider helping with closing costs, some won't. It doesn't hurt to ask (but prepare financially for the builder to say no.)   If the new construction home is in a very desirable, fast selling community the probability is less than if the builder has homes remaining in inventory for several months.

Sometimes builders will cover your closing costs only if you use their preferred lender.  That may be a good deal for you, or not, so go through the specifics very carefully.

  • January 26 2014
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