Who pays closing costs?

Who pays closing costs?

It is the buyer no matter how you slice it.  It is sort of an issue of semantics.  A buyer can write an offer with this contingency, for example: "Subject to seller contribution of up to $5000 toward buyer pre-paids, insurance and closing costs".  Let's say the home was on the market for $350,000 and in a bidding war, the buyer offers $355,000.  The offer is for practical purposes $350,000: $355,000-$5000 closing costs= $350,000 gross to seller.  The 5k comes off the seller's "top" but they are getting asking price.  The buyer is basically rolling those 5k closing costs into the mortgage.  

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