Percentage Amount of Seller Paid Closing Costs Remains Steady for Intown Closings
Posted in Cabbagetown, Candler Park, Downtown Atlanta, Druid Hills and Emory Area, East Atlanta Village, East Lake, Eastside, Edgewood, Grant Park, Greater Decatur, Inman Park, Kirkwood, Lake Claire, Market Analysis, Midtown, Northside, Oak Grove, Oakhurst, Old Fourth Ward, Ormewood Park, Peoplestown, Poncey Highland, Really Bad Real Estate Marketing, Really Great Real Estate Marketing, Reynoldstown, South Dekalb, Southside, Virginia Highland on August 28th, 2008Sellers in Intown Atlanta and Decatur paid some, or all, of their Buyer’s closing costs in 71% of the transactions through June, 2008, which is nearly the same as in the last two years…
Seller Paid Closing Costs
Greg the Pricemaster studied the following submarkets with our micro-numbers guru, Chartmaster Chuck to come up with our conclusions:
1. Ansley Park and Morningside southward to Inman Park and Reynoldstown - that includes Midtown and VAHI
2. Eastside Atlanta Dekalb - the neighborhoods East of Moreland and Briarcliff, plus Johnson Estates and southward to Edgewood and Kirkwood - all North of I20
3. Southside Atlanta Fulton - Grant Park, Summerhill, Boulevard Heights, Ormewood Park, EAV
4. Greater Decatur - South of Mercer U, down to I20 at South Dekalb Mall
Based on my experience, these numbers seem even higher - like 90% of the time or more. That being said, I’ve also experienced two transactions this Summer where appraisal almost caused the deal to fall apart and the Buyers ended up paying their own closing costs, among other concessions, in order to make the deal work.
It’s business as “unusual!”
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