All Forum Posts by: Simon T.

Thanks for the quick advice, I will take a look into the title trick to save some money. I think that if we both work on saving money on closing costs, he will be likely to share up to half the cost.

Also, I wonder if it is a good idea to share a real estate attorney as well. The landlord has a real estate attorney and I mentioned that if the lawyer is impartial and can write that down somewhere in the contract, I would be willing to share cost and the service of the lawyer. Is this a good idea or it's gonna be a conflict of interest from the get go? I wouldn't mind finding and hiring my own lawyer to review the contract.

Hi,

I am a new comer to the forum and am a first time home buyer. I am looking for some advice on buying a unit that I currently rent from a landowner. It gets tricky since I am doing this without a real estate agent, so Im asking the pros here. My question is how do I go about negotiating with the seller on the cost of repairs and closing costs.

I am thinking about asking the landowner to repair my unit (below 1K in cost) before closing and sharing half of the closing costs with him. I came to the realization that closing costs (about 6-7K in cost) aren't cheap, and it will be hard to negotiate on who covers what if cost items are broken down. In the end, it all boils down to dollars. I am hoping this will work since the seller will save a good chunk of commission costs from not using an agent. Currently, it is a seller's market, so Im not sure how much leverage I have. Is this the right approach to take or is it even feasible to do this? Or am I asking too little? I am hoping to negotiate this matter with the landowner before both of us meet a real estate attorney.