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. Home equity Home equity is a term that measures the value of a home to its owner after all debts and liabilities (like a mortgage ) have been paid.

Seller concession

Redfin

JULY 24, 2025

” Simply put, a down payment is the initial sum of money you pay upfront when buying a home, with the remaining amount financed through a mortgage. The minimum down payment you’ll need varies significantly based on the type of mortgage loan you choose. And what is the minimum down payment for a first-time home buyer?”

FHA loan

The Mortgage Report

JULY 1, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? of mortgaged home sales in April, up from 14.2% How Much Home Can I Afford? VA home loans rose to 7.2%

Loans

Redfin

JUNE 9, 2025

How the home appraisal process works Mortgage lenders only finance up to the appraised value of a home, so once you make an offer, they’ll order an appraisal to confirm the property’s fair market value. For example, if the gap is $10,000, you might ask the seller to reduce the price by $5,000 while you cover the remaining $5,000.

Purchase and sale agreement

Redfin

MARCH 4, 2025

You can calculate your home equity using the following formula: current home value – current mortgage balance What is home equity? Essentially, this is the amount of home that youve paid off toward your mortgage. This should be on your most recent mortgage statement. How is home equity calculated? 300,000 / $500,000 = 0.6

Equity

Redfin

AUGUST 4, 2025

Offer seller concessions when strategic Another powerful tactic is to consider offering seller concessions. These might include covering some of their closing costs, agreeing to a faster closing timeline, or allowing the seller to rent back the property briefly.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

A counter offer, even if it’s close to the list price, is better than letting a potential buyer walk! What are seller concessions? Depending on what type of financing the potential purchaser is obtaining, the option to receive seller concessions may or may not exist. This is no different in real estate.

Purchase and sale agreement

Redfin

JUNE 10, 2025

Mortgage lenders typically base their financing on the appraised value or the purchase price , whichever is lower, directly impacting the loan amount. 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

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. Staying nimble in a fast-paced market with the right mortgage technology.

Seller concession

Housing Wire

JANUARY 10, 2023

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. When the 30-year mortgage rate was around 3%, there was a higher demand for homes and such deals were not as popular.

Seller concession

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

Industrial

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. 5 reasons to refinance your mortgage right now.

Seller concession

Housing Wire

NOVEMBER 16, 2022

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. After that, the full rate is paid for the remainder of the term.

Seller concession

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. They own the home with their name on the title, as with any mortgage, traditional or reverse. But the fact is, most people simply don’t know that a new home can be purchased with a reverse mortgage.

Finance

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.

Agents

The Mortgage Report

JULY 31, 2020

A seller concession is an agreement where the home seller pays the buyer's closing costs. Learn how seller concessions work here.

Seller concession

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages

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

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

This article explores these issues and underscores the role of real estate and mortgage professionals in guiding clients through these turbulent times. The role of real estate and mortgage professionals In times like these, the role of real estate agents , brokerage owners and lenders becomes even more critical.

Pre-qualification

Housing Wire

OCTOBER 16, 2023

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. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents

Broke Agent Media

MARCH 16, 2023

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

Seller concession

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. These numbers impact your financial standing either cutting into your sale proceeds or increasing your monthly mortgage payments. But what are closing costs?

Closing costs

Real Trends

APRIL 11, 2023

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. In some areas of the U.S., So, what do you do?

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? We’re seeing more rate buydowns from sellers.

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

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.

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. Seller FSBO closing costs.

Closing costs

Lighter Side of Real Estate

JANUARY 11, 2023

Forget about asking for any concessions from a seller! Then mortgage rates went up, and many buyers felt like it was an awful time to buy a house. Just months ago, buyers were regularly waiving their rights to even get an inspection done on the house, let alone hoping to have a seller take care of any repairs.

Seller concession

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.

Closing costs

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.

Closing costs

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.

Seller concession

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession

HomeLight

JUNE 16, 2022

The total cost to sell a house in California depends on your specific situation. You can probably expect to run into these common expenses for home sellers in California: Prepping your house for sale. Seller concessions. Closing costs. Many factors influence the cost of prepping your home for sale.

Seller concession