• July 2018
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Should we pay buyer’s closing costs on a home sale?

Your situation is unique because you are selling to a family member. While there are certainly aspects of a home sale that are “customary,” it doesn’t mean that you have to those things if it’s not in the best interest of the transaction. Because there is a personal element to your situation, you definitely want to handle this situation delicately. You have to weigh not only the financial aspect, but also the long-term impacts it may have on your relationship with your sister. There are a few considerations here:

  • Usually, sellers do pay closing costs, but there are many situations where this simply does not occur.
  • When you weigh the cost of paying the closing costs, are you still coming out ahead? If so, then you may just be better off paying it and walking away with the money and no hurt feelings.
  • You can always negotiate the price of the home to reflect the closing costs, so you aren’t actually losing money.

No matter what you decide to do, it is in your best interest to contact a real estate attorney. LawTrades is an excellent option for people just like you who are faced with these difficult decisions. It is our mission to provide quality legal services for our clients that examine all aspects of the issue. The real estate lawyers on our site our experience with complex issues like this. Contact us today to schedule a free initial consult!

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