Ask your lender and agent about ways you can save money at closing. Shaping a solid offer requires some skill. While sellers may be more willing to respond to lower offers, you don’t want to completely turn them off with bids way below their asking prices. Unless you have a thorough knowledge of your local housing market, you’ll want to hire a great real estate agent to help you make an offer and navigate the tricky negotiating process to get a great deal.
Before your offer has been accepted, you can save even more cash at closing by asking your lender about seller concessions. Also called seller contributions, this is an agreement in which the seller pays part or all of your closing costs. Seller concessions typically range from 2 to 9 percent of the purchase price; the specific amount your seller can contribute depends on what type of loan you get and how much you borrow from the lender, as well as the willingness of the seller.