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Robert Solis
  • Real Estate Agent
  • Skokie, IL
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What does Buyer Pays All Closing Costs really mean?

Robert Solis
  • Real Estate Agent
  • Skokie, IL
Posted Mar 29 2015, 08:43

Hi guys!

It seems to me that there can be a lot of quibbling over what this means exactly. I see this phrase in wholesale advertisements all the time.

I think that when an end buyer buys from a wholesaler, it is understood that the buyer pays the closing costs. However, are there fees that are not considered "closing costs"? 

Are real estate comissions considered a closing cost? 

Are Attorney fees considered a closing cost?

How about Pro-rated taxes?

What is the standard for wholesale deals? In other words, are there fees that the seller still has to pay? I'd hate to pitch "no out-of-pocket money from you to sell your house because we pay your closing costs" and then at closing, the seller finds out he has to pay some fee. Just want to be clear on what the seller still has to pay at closing.

Thanks for your thoughts in advance!

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