naca paying for sellers closing costs?

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  • #16025
    mystiedawn
    Participant

    Has anyone heard of naca paying for the sellers closing costs as well as the buyer? My agent just told me another naca agent told him they were able to work that into their deal. I’ve never heard of naca paying for the sellers costs as well!?

    #16031
    msgreene1973
    Participant

    That sounds really weird. I never ever heard of NACA paying the sellers closing costs. The lender pays a lot of the buyers closing cost. I don’t even think NACA pays any of our cost. They don’t charge us for the services they provide but that it. I would love to know the definite answer to this one though

    #16041
    TTrumble
    Member

    Hello mystiedawn,

    The No Closing Cost feature of the NACA program only extends to your side of the closing table, not the seller’s. Third-hand “somebody told somebody who told me” information is usually not credible anyway 😉

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #16116
    mystiedawn
    Participant

    That is what I thought! However, my agent is now telling the sellers naca will pay for their closing costs! He said he called naca and someone there said that because you use naca title and escrow, that covers the sellers costs as well. I don’t know what to think, I’d hate to see my agent giving false information at this point!

    #16121
    msgreene1973
    Participant

    NACA is the buyers advocate. Period!!

    #16122
    kmjatl
    Participant

    If it’s not written in the Purchase and Sale Agreement, it’s not happening.

    (I know this applies in Atlanta) Although NACA closings generally take place in the NACA office, they are handled by an outside law firm. And I seriously doubt something like that will get by them. They want to get paid, and seeing as they are lawyers they will.

    #16315
    TTrumble
    Member

    Hello mystiedawn,

    Please keep me updated. My crystal ball has a hazy image of your real estate agent writing a rather large check! 😉

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    • This reply was modified 5 years, 6 months ago by TTrumble.
    #16318
    mystiedawn
    Participant

    He’s told me that he verified with my MC that Naca does cover the sellers closing costs as well. It worries me because I don’t want to give out the wrong information. But since my deal is being canceled (appraisal too low and sellers don’t want to adjust the price), I may be looking for a new agent anyways as I’ve had numerous issues with this one.

    #16340
    kmjatl
    Participant

    @mystiedawn – give this thread a read if you’re considering a new agent:
    http://forums.naca.com/?topic=realtor-question

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