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. stares down the barrel of a considerable economic downturn.

Finance

Housing Wire

JULY 18, 2024

These criteria will assist regulators, consumer groups, and the industry itself to assess the fairness of new buyer agreements,” Brobeck said in a statement. The CFA said the proposed criteria was created after the group received requests from several unnamed real estate companies.

Seller concession

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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.

VA loan

RIS Media

JANUARY 4, 2024

Seller credits, or concessions, are essential for buyers and sellers to understand. They are financial incentives homesellers offer buyers as part of the closing process. We will… The post What Are Seller Concessions in Real Estate? appeared first on RISMedia.

Seller concession

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Rocket launched a similar product in September.

Seller concession

Housing Wire

AUGUST 14, 2024

While Saphire can’t completely step away from discussions of buyer broker commissions, especially since he operates in MLS PIN, which did not opt into NAR’s settlement and is still allowing offers of cooperative compensation on its site, he is doing his best to make sure his sellers are fully in the driver’s seat when it comes to commissions.

Agents

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. But case numbers are a strong indicator of future industry performance, and new case number data for February performed strongly, RMI said.

Mortgages

RIS Media

MARCH 1, 2024

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

Seller concession

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages

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

Housing Wire

AUGUST 19, 2024

17, 2024 , has come and gone, and the real estate industry is still plugging along, despite the business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement now being implemented nationwide. The landmark date of Aug. It doesn’t matter,” O’Koniewski said. “If

Purchase and sale agreement

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

Mortgages

Housing Wire

FEBRUARY 2, 2024

John Lunde Outreach to individual reverse mortgage originators has seemed to indicate a perceived rise in inbound inquiries, but inquiries do not always result in closed loans. There’s always been a seasonality to the industry where the holidays are significantly slower than immediately before and after.” billion. “The

Mortgages

Housing Wire

JULY 4, 2024

As industry professionals, we have a responsibility to foster belief in the possibility of homeownership. Consumer sentiment and market perception Consumer confidence is currently low due to the high cost of living and perceived barriers to homeownership. However, this doesn’t mean the dream is out of reach.

Pre-qualification

Housing Wire

SEPTEMBER 18, 2024

REsides, an independently owned MLS based in South Carolina, has a similar comment box that can be used for seller concessions. The DOJ isn’t the only remaining legal threat to the real estate industry. billion judgment. Given the success of previous suits, there will almost certainly be more to add to the dozens already filed.

MLS

Housing Wire

AUGUST 30, 2024

Laura O’Connor: In marketing for any services industry, it is common to show that a provider has a lot of customers served. We’ve worked with our affiliated owners across the nation to provide templates, guides, resources, scripts and guidance from industry experts within and outside our organization to make sure they are prepared.

Branding

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. The 10-year note went to 4.04% from 4.14% in the same period.

Mortgages

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

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Connie Kim: There seems to be optimism in the mortgage industry at the start of the new year. How have the first two weeks of January been?

Pre-approval

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. But what are closing costs? This guide provides an easy overview of closing costs, who pays them, and how much you can expect to pay. Get Started What are closing costs?

Closing costs

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.

Seller concession

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.

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

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Cost to seller.

Seller concession

Easy Agent Pro

SEPTEMBER 5, 2023

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. By considering creative incentives such as seller concessions or a flexible closing timeline, you can make your offer more appealing and increase your chances of securing the property.

Earnest money deposit

BAM Media

OCTOBER 21, 2024

The listing agreement conversation should include local requirements related to MLS listings as well as seller concessions. Compensation Offers To make this clear to sellers, NAR’s consumer guide reminds them they have no obligation to make an offer of compensation for the buyer agent.

Seller concession

The Close

DECEMBER 14, 2023

Commission Rate (%) Home Sale Price Submit When & Why GCI Can Get Complicated The basic GCI calculation is pretty simple, but several situations can impact this otherwise straightforward formula, including your split, seller concessions, and more. Bringing It All Together Do you track your GCI closely?

Agents

Realty Biz

DECEMBER 5, 2022

Most of The Time, Having The Seller Make Repairs is a Mistake. It is usually best to ask the seller to adjust the price or give you a credit at closing. Those in the real estate industry refer to it as a seller concession.

Inspection

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. Concessions. You are your customer’s best advocate when it comes to evaluating seller concessions. Estimated closing costs. Timeline for closing.

Seller concession

HomeLight

APRIL 17, 2024

Both promise to buy your home for cash, and close quickly. This enables you to skip many of the typical hassles of selling a house (repairs, showings, open houses), and close in as little as 10 days. They also offer a home listing option for home sellers. Like Opendoor, they also offer a home listing option for sellers.

Seller concession

RIS Media

FEBRUARY 17, 2022

iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% The zavvie Seller Preferences Report , available for free at zavvie.com/seller-preferences , covers all the selling solutions available to U.S. For more information, visit zavvie.com.

Seller concession

HomeLight

SEPTEMBER 10, 2022

Wiggs is an expert in the industry, working with 70% more single-family homes than the average Yonkers area agent. Closing costs that add up – such as HOA fees, property and transfer taxes, title insurance. Simple Sale sellers have the ability to close in as little as 10 days. Get a Free Home Value Estimate.

Closing costs

HomeLight

JULY 14, 2021

Agent Jessica Smith , who is based in Alabama and has more than seven years’ experience in the industry, says that motivated sellers will take care of the smoke problem before they put the house on the market. “If Smith cautions that seller concessions heavily depend on the market.

Seller concession

HomeLight

APRIL 11, 2023

For this reason, many industry publications will advise that you buy in January or February for a better price. In addition, Colorado’s tourism industry saves every Colorado household $670 in annual taxes due to the state and local taxes paid by visitors. When is the best time of year to buy a house in Colorado?

Fixed-rate mortgage

HomeLight

NOVEMBER 30, 2022

When you choose well, your real estate agent will be your guide as you find your perfect home and make it to the closing table. Attending the closing and ensuring it goes smoothly. Some examples are urging you to look at homes outside of your price range, or advising you away from a co-op because they’re more difficult to close on.

Agents

BAM Media

JULY 31, 2024

In addition, the CFA shared eXp’s new seller contract, which CEO Leo Pareja first shared with the BAM audience last week. Recent CFA research has shown that these contracts have the potential to harm or help home sellers depending on their clarity and content.” For industry news, edutainment and humor, sign up for the BAM newsletter.

Purchase and sale agreement

HomeLight

MARCH 13, 2022

We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent. In an agent-assisted sale, the seller typically pays a commission amounting to around 6% of the sale price, which is then split 50/50 with the buyer’s agent. Navigate to Zillow.

MLS