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. While sellers in some parts of the U.S. Seller concessions hit a record in February, with 45.6% and nearly double the 25.5%

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

Housing Wire

MARCH 25, 2024

While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Purchase and sale agreement 408

Purchase and sale agreement Agents Seller concession MLS 408

Housing Wire

JUNE 10, 2021

From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. To attract potential buyers, sellers have to make sure their home is aesthetically pleasing. According to HomeAdvisor , the average seller pays almost $1,500 in staging costs. Bottom Line.

Seller concession 546

Seller concession Closing costs Staging Inspection 546

Housing Wire

NOVEMBER 7, 2023

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. It was through seller incentives that loan originator Ryan Grant helped his FHA borrower buy down 3.5 points from the 7.5%

VA loan 454

VA loan Agents Seller concession FHA loan 454

Housing Wire

NOVEMBER 20, 2023

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business.

Pre-approval 412

Pre-approval Agents Loan Officer Seller concession 412

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. It not only demonstrates to sellers that you’re financially prepared but also accelerates the purchase process once you’ve found the perfect home. Get Started 1.

Pre-qualification 95

Pre-qualification Seller concession Pre-approval Closing costs 95

Housing Wire

NOVEMBER 16, 2022

For a 3-2-1 rate buydown, the seller contributes a lump sum at closing, which is put in the buyer’s escrow account. With the rising rates throughout 2022, and the pace of home sales slowing as a result, many lenders are providing seller concessions to encourage buyers to strike a deal.

Seller concession 347

Seller concession Mortgages Lending Loans 347

Housing Wire

APRIL 12, 2023

A total of 45% of participants said home sales in their markets will remain flat for the next three months; 30.3% said sales will go up more than 5%; and 25.2% expected sales to go down more than 5% In the latest report from the National Association of Realtors (NAR), existing home sales rose 14.5% About 19.4%

Mortgages 327

Mortgages Loan Officer Marketing Seller concession 327

Housing Wire

FEBRUARY 9, 2021

This leaves you with three options if you want to move forward with the sale. Your next move would be to renegotiate with the seller. Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. Put simply, it’s a risk-mitigating measure.

Earnest money deposit 458

Earnest money deposit Seller concession Loans Lending 458

HomeLight

MARCH 5, 2024

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? In this post, we’ll provide clear insights and examples to help you decide if requesting a seller assist is the right strategy for your home purchase.

Seller concession 67

Seller concession Closing costs Title Closing 67

Housing Wire

JUNE 6, 2023

Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. With rates around 6.9% versus a 6.5%

Loan Officer 384

Loan Officer Loans Seller concession Pre-approval 384

Broke Agent Media

MARCH 18, 2023

Seller Concessions While it’s still a strong seller’s market, Redfin reported that seller concessions are on the rise. During the three months ending February 28th, over 45% provided incentives to buyers, with a record-breaking share of home sales involving both a concession and a price cut.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

Housing Wire

AUGUST 25, 2022

Home prices have remained stubbornly high , and there’s tens of billions of dollars in homes for sale beyond the conventional loan limits set by Fannie Mae and Freddie Mac. Homepoint is in a tough spot. In total, Homepoint said the cost reductions made in the second quarter alone should result in $31 million in savings on an annualized basis.

Mortgages 395

Mortgages Equity Loans Seller concession 395

Realty Biz

JULY 6, 2023

Two common strategies sellers use to entice potential buyers are offering a closing cost credit or a price reduction. What Is a Seller Credit? A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. Often these terms are used interchangeably.

Closing costs 103

Closing costs Closing Purchase and sale agreement Seller concession 103

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. Because homeowners are unwilling to let go of low mortgage rates, they’re not listing homes for sale. In turn, home sales remain low. Low inventory.

Seller concession 98

Seller concession Marketing Sales Industrial 98

The Close

DECEMBER 14, 2023

Gross commission income (GCI) is the full amount of money a real estate agent may receive in exchange for representing a buyer, seller, or both in a real estate transaction. GCI is generally calculated by multiplying the commission rate by the final sale price. Fill in your final sale price and commission rate below.

Agents 86

Agents Seller concession Brokerage Closing 86

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. Carefully consider factors like inventory levels, average sale prices, and average days on the market before making decisions.

Earnest money deposit 77

Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 77

HomeLight

NOVEMBER 1, 2021

To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. And if you do, what are the downsides to paying for the buyer’s closing costs as the seller? Buyers and sellers generally pay for their own closing costs — but everything’s negotiable.

Closing costs 77

Closing costs Closing Seller concession Purchase and sale agreement 77

Realtor.com

DECEMBER 1, 2022

After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded. more homes for sale in November compared with the same month in 2021. That translates to a whopping 240,000 more homes for sale on any given day in November. There were 46.8%

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

Real Trends

JULY 11, 2022

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. Comparable properties. Education here is key.

Seller concession 79

Seller concession Closing costs Inspection Title search 79

Realty Biz

DECEMBER 5, 2022

The crazy hot seller's market forced many home buyers into forgoing their inspection. The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues. Part of negotiating after a home inspection is knowing what is reasonable to ask for as a concession.

Inspection 144

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 144

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. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

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. In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. So, what are closing costs in Delaware?

Closing costs 61

Closing costs Closing Seller concession Homeowner’s association 61

Realty Biz

JUNE 26, 2023

There Are Fewer Intermediaries Intermediaries play an important role in the formation of the real estate market's microstructure, connecting sellers and buyers. You Might Get the Lowest Available Price When a home is on the market, it's easier for the seller than for the buyer.

Seller concession 93

Seller concession Technology Investor As-is 93

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.

Purchase and sale agreement 120

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 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. Specifically, this is considered a presale or pre-listing home inspection since you, as the seller, are having the inspection performed. As an example, at 15 percent, the cost to sell a $250,000 house could be as much as $37,500.

Seller concession 67

Seller concession Closing costs Inspection Staging 67

Real Trends

JANUARY 2, 2023

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. Today’s homebuyers and sellers have genuine real estate needs such as death, divorce, illness, relocation and job loss, to name a few.

Seller concession 99

Seller concession Agents Mortgages Equity 99

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.

Purchase and sale agreement 131

Purchase and sale agreement Earnest money deposit Seller concession Finance 131

HomeLight

SEPTEMBER 30, 2021

When the appraisal comes in lower than your offer price, it’s either an opportunity for you to renegotiate the sales price with the seller — or it’s going to completely derail your home sale, and you’ll have to start over again. Table of Contents. What is an appraisal and how does it work? How common are low appraisals?

Pre-approval 95

Pre-approval Seller concession Finance Banks 95

RIS Media

FEBRUARY 17, 2022

Despite one of the most robust seller markets in real estate on record, with homes selling “faster than you ever thought possible,” iBuyers registered a breakout year in 2021, increasing business fivefold year-over-year according to a new report from zavvie. Homeward kicked off a 20-state expansion plan.

Seller concession 91

Seller concession Loan contingency Mortgages Loans 91

Realty Biz

DECEMBER 7, 2022

If you find what looks like damage to your roof, you will probably be concerned. You don’t want the rain entering your home and doing untold damage. But wait a moment, before you start planning for a roof replacement, is the issue really that serious? Replacement roofing can be expensive. Wood shingles: 25 to 50 years. Metal: 40 to 80 years.

Seller concession 112

Seller concession Inspection As-is Development 112

RIS Media

FEBRUARY 28, 2022

Market conditions from October through December, along with record-low inventory, presented a challenge for iBuyers, whose value proposition is speed, certainty and convenience to home sellers. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1%

Seller concession 83

Seller concession Loan contingency Mortgages Loans 83

The Close

FEBRUARY 20, 2024

In real estate, the market is tied to the basic economic rule of supply and demand, which determines if a market is a buyer’s market vs seller’s market. I’ll help you identify “ Is it a buyer’s or a seller’s market?” I’ll help you identify “ Is it a buyer’s or a seller’s market?” What Is a Seller’s Market?

Marketing 80

Marketing Debt-to-income ratio MLS Pre-approval 80

HomeLight

JULY 25, 2022

You’re wondering if there’s any way to save money on your sale, perhaps by using a flat fee broker. While sellers can save money on that side of the transaction, he cautions that they’re still paying the buyer’s agent commission of 2%-3% at closing. And are they a good option for your home sale? What is a flat fee broker?

MLS 92

MLS Brokerage Agents Seller concession 92

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 98

Closing costs Closing Purchase and sale agreement 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.

Purchase and sale agreement 52

Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

Housing Wire

MARCH 13, 2024

The basis of the idea goes something like this: in today’s high-tech digital world, there exists abundant online resources whereby any buyer can review any property, compare any property value, draw an accurate opinion of any property value, and even reach out directly to sellers to negotiate a transaction. That’s a pretty big task.

Seller concession 441

Seller concession Agents MLS Sales 441