Housing Wire
APRIL 15, 2024
Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.
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. He said he’s also interested in seeing where homes will be listed since they will no longer be required to be in the MLS system.
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Housing Wire
MARCH 25, 2024
There is simply a new NAR rule that applies to all NAR member and NAR MLSs that does not allow cooperative compensation to be offered on the MLS.” 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.
Housing Wire
NOVEMBER 20, 2023
Enter the savvy seller. Savvy sellers are consumers who will choose to have a seller agent complete a basic MLS listing, then take the process into their own hands by fielding orders directly from buyers rather than give 3% to have offers brought to them. They’re still here and not going anywhere.
HomeLight
SEPTEMBER 30, 2021
If you’re financing your purchase with a mortgage loan, your new property most likely needs to undergo an appraisal to complete the transaction process. So, given 78% of buyers financed their purchase in August 2021 , there’s a good chance you will encounter an appraisal at some point before closing. Option 5: Pay more for the house.
Redfin
JULY 26, 2021
Your realtor uses the MLS to obtain information on three or four homes currently on the market or those that have recently sold in your neighborhood. Almost always, the seller pays the total commission cost. Home seller concessions . Seller concessions are often market-driven. Any seller concessions.
The Close
FEBRUARY 6, 2024
The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. That showed the sellers that my clients were more invested and serious about purchasing the home.
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