Closing costs Principal Seller concession 
Redfin
FEBRUARY 20, 2025
Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?
The Mortgage Report
JULY 1, 2025
Determine what you can afford by estimating your homeownership costs, which means principal and interest payments as well as property taxes, homeowners’ insurance, and maintenance/repair costs. Ask sellers for concessions to help cover closing costs. Create a realistic budget. Go lender shopping.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
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. While less common, seller financing, where you act as the lender for a portion of the loan, could also be an option to bridge the gap.
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. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.
Housing Wire
JANUARY 17, 2024
But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.
Housing Wire
SEPTEMBER 16, 2022
UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.
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.
Expert insights. Personalized for you.
Let's personalize your content