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 72

Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

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.

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Agents Seller concession VA loan Finance 530

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.

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VA loan Agents Seller concession FHA loan 457

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.

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Finance Seller concession Loan Officer Loans 451

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.

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Seller concession Closing costs Staging Inspection 546

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?

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Seller concession Loan Officer Closing costs Mortgages 441

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.

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Seller concession Closing costs Finance Closing 141

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. This step of the buying/selling process comes with its own set of costs. Two main property-related closing costs for buyers are the appraisal and the home inspection.

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Closing costs Closing Purchase and sale agreement Seller concession 52

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. Negotiations can include the purchase price, closing costs and contingencies. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits.

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Seller concession Closing costs Closing As-is 130

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.

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Seller concession Mortgages Fixed-rate mortgage Loans 384

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. are offering freebies to attract buyers, thanks to the dampening effect of high mortgage rates, sellers in markets with severe housing shortages don’t need to.

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Seller concession Closing costs Sales Mortgages 52

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.

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Closing costs Closing Seller concession Purchase and sale agreement 71

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).

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Closing costs Closing Title Title search 97

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?

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Closing costs Closing Purchase and sale agreement Title search 94

Lighter Side of Real Estate

JANUARY 11, 2023

Now, many buyers are getting money toward repairs, closing costs, and even mortgage-rate buy-downs. Sellers are willing to negotiate on more than just price. More buyers re-entering the market could also impact how much sellers are willing to (or even need to) bend on price, terms, or concessions.

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Seller concession Closing costs Inspection Mortgages 71

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs.

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Closing costs Closing Seller concession Homeowner’s association 61

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.

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Agents Seller concession Closing costs Mortgages 406

HomeLight

MARCH 5, 2024

Hopeful buyers often discover that the key to this door is getting past the upfront costs required to buy a house. For many, the solution lies in a “seller assist.” But what exactly is a seller assist when buying a house, and how can it help clear the path on your homebuying journey? How does a seller assist work?

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Seller concession Closing costs Title Closing 69

Maximum Exposure Real Estate

SEPTEMBER 25, 2023

A seller assist, also known as a seller concession or seller credit, is a feature of loan programs that allows the seller to help the buyer by covering a portion or the entire closing costs. This option is desirable for buyers with limited cash and sellers facing challenges selling their properties.

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Seller concession Closing costs Loans Closing 98

HomeLight

FEBRUARY 16, 2024

You’re told that the seller is receiving multiple offers, but some have attached contingencies — conditions the other buyers have included in their offers. From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get Started 1.

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Pre-qualification Seller concession Pre-approval Closing costs 91

Housing Wire

APRIL 12, 2023

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. 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. About 19.4%

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Mortgages Loan Officer Marketing Seller concession 345

Real Trends

NOVEMBER 2, 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?

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Seller concession Loan Officer Closing costs Mortgages 107

Easy Agent Pro

SEPTEMBER 5, 2023

This can help showcase your commitment, flexibility, and willingness to meet the seller’s needs, ultimately positioning you as the most attractive buyer. A larger deposit can give the seller confidence in your ability to close the deal and may make your offer more enticing compared to others.

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Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 76

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.

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Closing costs Closing Purchase and sale agreement Title 87

Real Trends

JULY 11, 2022

This is the traditional strategy, but in some cases their dollars can go further if they look in different areas that are close to their desired location. You are your customer’s best advocate when it comes to evaluating seller concessions. When it comes to making an offer, even experienced homebuyers need reminders.

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Seller concession Closing costs Inspection Title search 79

Realtor.com

DECEMBER 10, 2020

In most parts of the country, sellers often have multiple bids right now,” says Danielle Samalin , CEO of Framework Homeownership. But even in a seller’s market, there are myriad opportunities to negotiate, from requesting home repairs to offering a speedy closing. Time to close. Closing costs.

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Closing costs Inspection Closing Rent back 142

Real Trends

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 99

Agents Seller concession Closing costs Mortgages 99

Realtor.com

DECEMBER 1, 2022

” Can seller concessions balance out rate hikes? Sellers might not think it’s the best time to list homes, but could it be a good time for home shoppers to buy? Home shoppers looking for lower asking prices can officially check that off their wish list. Inventory is soaring, but is that good news? There were 46.8%

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Mortgages Seller concession Closing costs Sales 120

Redfin

JULY 26, 2021

The average cost of selling a home in the US is approximately 10 – 15 percent of your home’s sale price. This includes getting the house ready to list, the cost to hire movers, real estate agent commission and fees, and the cost to address any necessary repairs. . Of course, every situation is unique, and your costs will vary.

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Seller concession Closing costs Inspection Staging 70

Realty Biz

APRIL 20, 2022

When you understand these terms and conditions, you’re more likely to structure your offer in a manner that will be appealing to the seller. Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 105

Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

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Closing Title search Purchase and sale agreement Title 62

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.

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Closing costs Closing Seller concession Title search 98

Windemere Buying

JUNE 22, 2022

The seller rejects your offer: If a seller rejects your offer, your agent may be able to relay information from the listing agent as to why it was insufficient. The seller makes a counteroffer: Counteroffers can make buying a home feel like a chess match. This is an indication that your offer has piqued the seller’s interest.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

Realty Biz

MARCH 27, 2022

If you are trying to buy a home in a seller’s market, offering the asking price may not be enough. With more competition from buyers, the seller has more options, and you will need to do more to get the house you want. Sellers are in the driver’s seat, and they know it. Make Your Offer as Straightforward as You Can.

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Purchase and sale agreement Earnest money deposit Seller concession Finance 116

Redfin

NOVEMBER 29, 2022

A “mortgage buydown” is a financing agreement where the buyer, seller, or builder will pay mortgage points, also known as discount points, at closing to obtain a lower interest rate. With this option, you’ll buy a lower rate for the entirety of the loan term at closing from your lender through discount points.

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Mortgages Closing costs Loans Seller concession 73

The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. I’ve compiled a list of my top tips on how to win a bidding war on a house to help you outsmart your competition and get your clients into their dream homes.

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Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

NOVEMBER 10, 2021

We’re here to help you prioritize the big stuff with these recommendations for impactful pre-listing tasks that will resonate with buyers, plus a suggestion for materials and paperwork to gather now to help prevent closing delays. Make sure the windows open and close, and repair any that stick. Source: (Ricky Singh / Unsplash).

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Inspection Title Seller concession Agents 116