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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Teri Arbogast
The Teri Arbogast Team
Keller Williams Realty
1625 N Commerce Pkwy #105
Weston, FL 33326
cell: 954-242-8030
Office: 954-358-6007
Teri@TerisRealestate.com

Teri is an Award Winning, "Top Producing Broward County Agent" with KELLER WILLIAMS PROPERTIES in Weston,FL. Specializing in Davie real estate, Plantation Real Estate and Weston, FL Real Estate and all areas of Broward County Real Estate.

Teri has the knowledge and experience necessary to find the right home at the right price. Teri knows the many developments, Broward County schools and different community amenities like few others. She has strong negotiating skills and a good old fashioned work ethic. Teri is a 24/7 agent who returns her calls and e-mails promptly.

Teri believes in "treating others the way she wishes to be treated" and so far that philosophy has served her well. Through her dedication and hard work she has earned the reputation as an agent that treats her clients "like family." She is known by many as "The best realtor in Davie" but not only is she a Davie realtor, she is an experienced and seasoned Weston, FL Realtor, Plantation Realtor and highly regarded as one of the top Broward County Real Estate Agents.

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