If I buy a new home and pay the seller the total amount agreed on, will I be able to get seller concessions and avoid paying the closing cost, seeing I will not be using a lender.
=====ANSWER=====
Hello Friend,
First of all, thank you for coming to my site and asking such an interesting question.
When I think about what you are asking, I'm delighted to think you are a person who has been planning this move for some time. After all, if you have the ability to buy a house without a lender, you are in a very strong cash position.
First of all, if you are a cash buyer, why would you pay full price? Unless the seller is a bank, because you are purchasing a foreclosure or bank owned home, I would think you are in the best position to write your own deal.
And even if the seller is a bank, you still can control the deal with a cash offer. You can be sure they want to sell the house and the quicker the better. A cash deal can close very quickly.
So, if I were in your shoes, I would structure my deal like this;
Buy the house for the absolute lowest price I can. I would not pay full price. Then I would still ask the seller to pay the closing costs when writing my offer. The seller may counter offer you something and then you decide how to proceed.
Very few people pay full asking price for a house unless there were several offers on the table for the same house.
If you have a Realtor involved, there are commissions to be paid by the seller in most cases. You still have taxes and insurance you have to get on the house even though you are paying cash. This could very well be some cost you may have to pay.
The closing costs the seller might pay would be title insurance, survey if needed, well and septic inspection if it's not municipal services (I would ask for this as the buyer) and title closing and document preparation fees.
If the seller does not like your offer, they will tell you.
Now maybe you want the house so bad and you do not want to lose it and that is why the full price offer. Well, if that is the case, then pay the full price and ask the seller to pay all associated closing costs both the sellers and the buyers. After all, it's a full price cash offer.
I don't know if any of this makes any sense to you but at least I may have presented you with a few ideas.
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