HOW TO GET FREE CLOSING COST HELP

In this buyers market, first time homebuyers really do have the upper hand.  It was only a couple of years ago that buyers were offering to pay the sellers closing costs and often offering more than asking price, just to get into a home. 

The tables have turned and now in addition to the $8,000 tax credit, there area variety of ways for first time buyers to find funds to pay some or all of their closing costs. The best advocate a first time buyer can have is not just a licensed real estate agent, but a Full Time Realtor®  with a current, proven track record of buyer transaction sales.  They will have the knowledge and experience to make sure you get the most for your money and don’t leave money on the table. 

So, how can your closing costs paid:

• The sellers of many homes on the market today offer an incentive for buyers to select there home over the vast array of choices available to them.
   
• Many listings already advertise seller paid closing costs.  Other sellers are also conditioned by their agents to expect to pay some or all of the buyers closing costs as part of the negotiation, if you choose their home.  It is important to choose an agent that will negotiate well on your behalf.  Even on a home with competitive bids the First Time home buyer offer may be preferable, since the seller will pay less closing costs due to the Maryland State transfer tax exemption.
   
• It is typical in new construction purchases for a buyer to pay all closing costs to the transaction.  This means they pay their own side and the builder’s side. However, if you are considering new construction, an experienced agent can help negotiate a better deal for a buyer and sometimes have the buyer closing costs covered. 
   
• Certain counties offer closing cost assistance programs and have funds set aside for this purpose.  After December  any unused funds go away.  Please contact us to determine if you are eligible. (Income restrictions may apply.)  
   
• Teachers, fire, police workers and other public service workers may also be eligible for assistance.  There are many programs available if you have the right resources to help.
   
• Some corporations offer real estate rebate benefit programs.  Check with your human resource professional to see if your company subscribers or have them call us to enroll your company quickly and easily.
   
• Additionally, remember the $8,000 is real money so you may be able to get a loan from a family member to help with closing costs and repay them as soon as you get your tax return. 

New information comes out regularly, and The Northrop Team guarantee is to stay on top of the latest information.  Please contact us to schedule a meeting with one of our highly experienced Realtors® today.

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