The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.

One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.

Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.

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Cyndi Shurts and Donald E. Shurts Jr.
RE/MAX VICTORY
51 Plum St., suite 220
Beavercreek, OH 45440
Toll Free: 1-888-278-0295
Cyndi's Direct : 937-604-5194
Don's Direct: 937-241-2124
Toll Free Fax: 1-888-602-8133
Don's Email: Don@WelcomeHomeDayton.com
Cyndi's Email: Cyndi@WelcomeHomeDayton.com

Cyndi & Don Shurts have created a reputation of outstanding service and attention to details with past home buyers and sellers, other Dayton Realtors, and real estate service providers in the Dayton area. Miami Valley Dream Homes & RE/MAX Victory at The Greene provide unmatched, cutting edge tools and technologies to accomplish specific goals for our real estate clients, both buyers and sellers. This team provided many free services beyond the standard real estate agent. They are home staging experts, extensive internet marketing experts, Short Sale experts and new construction specialists. Cyndi and Donald Shurts are members of the National Association of Realtors (NAR),Ohio Association of Realtors, and the Dayton Area Board of Realtors. This Dayton Ohio real estate team will SAVE you TIME & MONEY in buying or selling a home. See the dozens of testimonials from past clients. Past Client phone numbers available upon request.