While David and Arbor both have answered correctly there is also the possibility that the seller countered your offer by increasing the sales price to cover the concessions.
The listed price is $135,000.00
You offered $125,000.00 with seller paying closing costs of say $5,000.00.
This offer would net the sellers $120,000.00 ($125,000.00 minus the $5,000 seller concessions)
What usually happens is the seller will counter which would look something like this:
The list price of $135,000.00 + the seller concessions of $5,000 = new sales price of $140,000.00 which effectively allows the buyer to roll the closing costs into the new loan.
I'm a mortgage banker/broker
· 10 years ago