what is a seller concession? I mean, that's kinda like a dinosaur these days. I haven't seen one of those in several years. So a seller concession is when they agree to provide funds that support the buyer during the transaction. You can bump into a seller concession several times throughout the transaction. Usually, it's in the beginning. A buyer might use a negotiating tactic that says, I'll pay full price, but I'm gonna ask the seller to pay for all of my closing costs and my prepaids allowing me to come to the table with less cash down. They might also negotiate a price reduction in addition to a seller concession.
Those are two separate items and can be used in conjunction or separate from one another. A seller concession can also show up during the inspection period where you might choose to not have something fixed, but inline, get money back from the seller again towards prepaids and closing costs or a price reduction. So there's sometimes a conversation right now about a two one buy down or a rate reduction, and that might be a seller concession. I wanna double click on that because a seller concession can only be used towards a fires prepaids and closing costs. There are limits to what a seller can provide, both per the loan that the buyer uses.
Learn why it's exciting for buyers for the return of seller concessions in this episode of The Double Comma Club, "What Are Seller Concessions?"
Supply Isn’t the Story, Demand Is.
Be a leader for your clients.
Financial Independence for Early Retirement through House Hacking
Don't Be Afraid of No from Your Lender
Buyers, Sellers, Agents, this is not the time to rest.
Forbearance and Unemployment Numbers' Effect on Denver Real Estate Market
Giving Agents the Tools to Be Essential Human Resources for Buyers and Sellers
Resurgence of HOME and how it affects the Denver real estate market
Know Your Loan Options Renovation, CHFA, Jumbo, Conventional, FHA, USDA, and VA
Making Your Professional Memberships Work for You
Use Your Extra Time to Learn All You Can and Add Value
Daily Disciplines and Increasing Your Value
Celebrating the Resiliency of Agents
DMAR for August - Real Estate Did Not Surprise; It Delivered
Getting Out of Your Own Way
Zoom Logic for Beginners and Gems for More Advanced Users
Succeed During Change With Excellence and Ethics
Agents - avoid being annoying online - be of value to community.
Virtual Home Tours to Give You an Edge Over Your Competitors
Be willing to fail and think of your agents as your clients.
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast