Redfin

JANUARY 10, 2025

Arguably, the most important variables to consider before you make the decision to sell are home equity, transaction costs, and local market conditions. Closing costs Closing costs refer to the fees and expenses associated with finalizing the sale of a home, typically paid at the closing of the transaction.

Seller concession

Redfin

MARCH 18, 2025

This Redfin article will break down exactly what happens to your earnest money at closing, and what to expect in different scenarios. Earnest money is a deposit you make after your offer on a home is accepted to show the seller that youre serious about buying. Think of it as a good-faith payment that tells the seller youre committed.

Closing

Redfin

JULY 1, 2025

A seller’s credit, also known as a seller concession, is a financial agreement where the home seller agrees to cover some of the buyer’s closing costs. Rather than lowering the price of the home, the seller contributes a credit at closing to help reduce the buyer’s upfront expenses.

Purchase and sale agreement

HomeLight

NOVEMBER 22, 2024

In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the home , arranging showings , and negotiating the deal. This primarily enables sellers to save on commission fees. Thus, sellers working with an agent only have to cover their listing agent’s fee, which is about 2.5%

Seller concession

Redfin

JULY 24, 2025

Buying your first home is a huge accomplishment, whether you’re dreaming of a sprawling ranch-style in Dallas or a charming Victorian home in Charlotte. It’s natural to have a lot of questions, and one of the most common is, “What exactly is a down payment ? And what is the minimum down payment for a first-time home buyer?”

FHA loan

The Mortgage Report

JULY 1, 2025

With that price icing out many buyer candidates, sellers are more eager to negotiate lately, agreeing to lower down payments in order to close deals in a cooling market where there are now 34% more sellers than buyers. Buyers across the country are bringing smaller checks to the closing table,” he says.

Loans

Redfin

JUNE 9, 2025

In a seller’s market, buyers may waive the appraisal contingency or offer an appraisal guarantee. An appraisal gap occurs when a home’s appraisal value comes in lower than the price the buyer agreed to pay. This is a common challenge in competitive housing markets, where roughly 8% of home appraisals come in below the contract price.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Top Frequently Asked Questions From Home Sellers It’s known that the home buying process comes with many frequently asked questions and the home selling process is no different. Since every home sellers situation is different, you should discuss the timing of your home sale with your Realtor.

Purchase and sale agreement

Redfin

AUGUST 4, 2025

Understand the seller’s motivation Beyond the numbers, understanding the seller’s motivation can give you a unique edge. If a seller is facing time-sensitive circumstances, they may be more willing to negotiate on price or other terms. Do your homework before you make an offer Negotiation begins long before you submit an offer.

Earnest money deposit

Redfin

JUNE 10, 2025

Offer seller concessions or financing: Instead of reducing the core price, you might offer seller credits toward the buyer’s closing costs. Offer seller concessions or financing: Instead of reducing the core price, you might offer seller credits toward the buyer’s closing costs.

Purchase and sale agreement

Redfin

MARCH 4, 2025

One of the benefits of homeownership is building equity – the amount of the home you actually own. Home equity can be used to help you buy a new home, make improvements to your house to increase its value, or pay off debts. So, how do you calculate how much home equity you have? Home equity is the amount of your home that you actually own.

Equity

Housing Wire

AUGUST 17, 2022

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Seller concession

Housing Wire

JANUARY 10, 2023

With the rise in mortgage rates and inflation, concessions regained popularity, reducing the overall cost for homebuyers through money toward repairs, closing costs and mortgage-rate buydowns. The lowest concession rate of 13.4%

Seller concession

Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. Seller Concessions. Bottom Line.

Seller concession

Housing Wire

NOVEMBER 1, 2022

A 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession. A 2-1 buydown as a seller concession can sometimes make it easier and faster for home sellers to sell their home for a good price. So what is a 2/1 rate buydown? How does a 2/1 rate buydown work?

Seller concession

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. That’s a problem because mortgage LOs traditionally have not “forged as deep of inroads” with sellers’ agents.

Industrial

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

VA loan

Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception. Yet staggeringly few are aware of its existence.

Finance

Housing Wire

NOVEMBER 16, 2022

UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account.

Seller concession

Housing Wire

APRIL 15, 2024

The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees.

Agents

Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

Seller concession

Maximum Exposure Real Estate

JUNE 7, 2021

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” and wondered what it meant? Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price.

Seller concession

Realtor.com

NOVEMBER 15, 2022

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.

Seller concession

Housing Wire

JULY 4, 2024

Current market challenges The real estate market is currently characterized by a complex interplay of factors: Interest Rate Volatility: Fluctuating interest rates have made it difficult for potential buyers to predict the cost of financing a home. This dream, however, seems to be facing challenges.

Pre-qualification

Maximum Exposure Real Estate

JANUARY 4, 2023

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” or “selling concessions” and wondered what it meant? This can make […].

Seller concession

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. It never will be.

Agents

Housing Wire

AUGUST 19, 2024

When we got to the close of day on Friday, we were all kind of waiting to see if it was going to be a big event and then it wasn’t. The biggest difference is that sellers need to have the new format and commission structure explained to them fully and carefully,” said Rachael Dotson, an agent at Rhode Island-based Residential Properties Ltd.

Purchase and sale agreement

HomeLight

JANUARY 31, 2025

When youre preparing to sell or buy a home, the phrase closing costs will be spoken (and written) on both sides of the transaction table. But what are closing costs? Understanding these costs upfront can help you budget properly and avoid surprises. Get Started What are closing costs?

Closing costs

Housing Wire

APRIL 12, 2023

Incentives in the Market In a higher-rate environment, temporary rate buydowns funded by sellers, lenders or builders were widely offered as an incentive for buyers. The majority of the 155 respondents – about 70% of the total – noted temporary rate buydowns funded by the seller, builder or lender are offered as incentives to buyers.

Mortgages

Housing Wire

MARCH 22, 2024

Local real estate professionals attribute the slower market to a variety of factors including higher home prices, which have remained steady despite the slowdown, higher interest rates , and rising costs for homeowners and flood insurance. We are seeing a healthy increase in inventory, which we really needed.” In comparison, the average U.S.

Marketing

Housing Wire

JUNE 25, 2024

After years of a market that favored sellers, the pendulum is slowly swinging back in favor of buyers. Compared to years past when homes sold in hours for thousands above asking, 41% of millennials expect to negotiate with sellers , 26% of whom expect to lower their prices. What is the purpose of a home appraisal?

Seller concession

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? As Realtors, we had to think creatively to help our sellers sell their homes. To think outside the box, some Realtors began using seller concessions. You are certainly not alone. In some areas of the U.S., In some areas of the U.S.,

Seller concession

HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? Some of these costs, such as property taxes and insurance, apply to homeownership in general.

Closing costs

HomeLight

JANUARY 29, 2021

Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price. Mandatory costs include a long list of fees and taxes from involved parties such as the local and state government and mortgage lenders.

Closing costs

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. Typical seller closing costs. Appraisal fee.

Closing costs

HomeLight

MARCH 31, 2021

Whether you’re selling a modern condo in Atlanta’s Midtown or a century-old property in Savannah’s Historic District, you need to know the closing costs sellers are responsible for in Georgia. The last thing you want is sticker shock when you review these subtractions in your seller’s settlement statement. Not in Atlanta?

Closing costs

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Source: (Shot by Cerqueira / Unsplash).

Closing costs