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What Are Seller Concessions? Here’s Why They’re a ‘Win-Win for Both Sides’

Realtor.com

One type of incentive that buyers—and sellers—can use is called seller concessions. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. How do seller concessions work?

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What your customer should know before making an offer

Real Trends

They need to understand: What earnest money is and what happens to it if the sale falls through (and if it doesn’t) How long the seller has to respond to an offer Who is responsible for an inspection What happens if an inspection reveals significant problems that require repair. Concessions. Contingencies.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. Common Contingencies Found in an Offer to Purchase.

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Georgia Sellers: Here’s a Round Up of Your Closing Costs

HomeLight

Title search fee. After you accept the buyer’s offer, an attorney performs a title search to ensure the property is free and clear of liens or other conflicts of ownership. On average, title search fees run between $100 to $200. Seller concessions. Counties typically charge $10.00

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What Happens After Making an Offer on a House?

Windemere Buying

The timeline for inspections during the closing process vary state to state. Getting the home inspected allows you to ask the seller that certain repairs be made, request seller concessions, and renegotiate your offer. When the sale closes, the money goes toward the down payment or closing costs.

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Selling a House in Delaware? You’re on the Hook for These 9 Closing Costs and More

HomeLight

In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. It’s customary for the seller to pay for closing costs like title search, title insurance, and transfer taxes. Seller concessions. One of the most common seller concessions is repair credits.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. Major damage is found during the home inspection.

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