Real Trends

APRIL 11, 2023

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. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value.

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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.

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Industrial Seller concession Purchase and sale agreement Agents 501

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

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 454

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. CHLA appreciates Fannie Mae’s clarification today that seller payment of buyer realtor commissions will not be counted towards seller concession caps,” a spokesperson wrote in an email.

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Agents Seller concession VA loan Finance 529

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? The post Seller’s Concessions: What is a Seller Concession and How Do They Work appeared first on Massachusetts Real Estate Exposure.

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Seller concession Closing costs Finance Closing 111

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.

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Purchase and sale agreement Agents Seller concession MLS 437

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 437

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. Presented by: Flagstar.

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Seller concession Mortgages Fixed-rate mortgage Loans 383

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.

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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%

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RIS Media

FEBRUARY 29, 2024

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

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Seller concession Closing costs Closing As-is 124

Housing Wire

APRIL 8, 2024

I’m optimistic on H4P, more so than in the past several years simply due to the change in seller concession rules to simplify the process [to be] more like forward,” he said. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% HMBS issuance set a record in 2022, with nearly $14 billion issued,” New View said.

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Mortgages Seller concession Loans Equity 427

Lighter Side of Real Estate

JANUARY 11, 2023

Combining what sellers are seeing in the news about the market shifting, and then seeing fewer buyers than they may have anticipated coming to see their house, along with it not selling as quickly as they thought it would, sellers are more likely to negotiate. Sellers are willing to negotiate on more than just price.

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Seller concession Closing costs Inspection Mortgages 71

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. An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. They’re still here and not going anywhere.

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Housing Wire

AUGUST 24, 2022

Last week, it launched temporary rate buydowns , allowing borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. . Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market.

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Seller concession Equity Loans Mortgages 383

Housing Wire

MARCH 6, 2024

I think the best places to focus right now are giving the H4P a muscular new push due to the seller concessions update , and working with forward mortgage distribution and servicing opportunities to convert forward loans into new reverse borrowers,” he said. That was down 3.6%

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Mortgages Seller concession Principal Loans 436

Housing Wire

JANUARY 25, 2023

According to Redfin, San Diego and Phoenix are among the most popular markets for seller concessions. These concessions include offering buyers money for home repairs and mortgage-rate buydowns as homeowners continue to sell homes for below the asking price. The index projected a decline of 6.1% However, not all hope is lost.

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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.

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Seller concession Mortgages Lending Loans 383

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.

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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. Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. It never will be. I’ll explain later.)

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Agents Seller concession Closing costs Mortgages 407

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.

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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

Housing Wire

FEBRUARY 9, 2021

Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. More for Real Estate Enthusiasts.

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Earnest money deposit Seller concession Loans Lending 454

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.

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Mortgages Loan Officer Marketing Seller concession 394

Housing Wire

JUNE 6, 2023

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. Seller concessions are abundant in some of the markets that have cooled – including Oregon and Arizona – and his clients are able to take advantage of that, Sawyer noted.

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Loan Officer Loans Seller concession Pre-approval 383

Maximum Exposure Real Estate

JUNE 15, 2023

What is a Seller Credit? One such consideration is the negotiation of seller credits. A seller credit, also known as a seller concession, is an arrangement in a real estate transaction where the seller agrees to contribute a certain amount towards the buyer’s closing […] The post What Are Seller Credits at Closing?

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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.

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Seller concession Banks Mortgages Industrial 98

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

Housing Wire

OCTOBER 27, 2022

When borrowers show hesitancy due to high mortgage rates, loan officers work with options such as temporary rate buydowns, which allow homebuyers to receive lower mortgage rates at the start of their loan terms by using seller concessions as part of the payment. Searching for new options.

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Mortgages Fixed-rate mortgage Loan Officer Seller concession 383

Housing Wire

AUGUST 25, 2022

Homepoint is in a tough spot. Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. In total, Homepoint said the cost reductions made in the second quarter alone should result in $31 million in savings on an annualized basis. Homepoint is hardly alone.

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Mortgages Equity Loans Seller concession 395

Housing Wire

NOVEMBER 23, 2022

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. If the process is explained correctly to both parties, sellers and buyers will enjoy seeing each other win and accomplish the goals each party has,” Miller said. “It in the second year.

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Marketing Loan Officer Seller concession Loans 469

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.

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Closing costs Closing Purchase and sale agreement Seller concession 92

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. With this, local home prices escalated, pricing out local residents and contributing to price drops and seller concessions.

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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. Say you’ve got a seller concession of 2% of the sale price to cover the cost of some repairs. What Is Gross Commission Income?

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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 78

HomeLight

NOVEMBER 1, 2021

And if you do, what are the downsides to paying for the buyer’s closing costs as the seller? To explore the potential drawbacks of paying for buyer closing costs as the seller, we spoke with Tara Limbird , an Arkansas-based agent who heads a team of real estate pros that was nationally ranked at the top one half of 1% of Realtors®.

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Closing costs Closing Seller concession Purchase and sale agreement 74