article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

article thumbnail

‘Don’t panic:’ KW executives address agent questions on NAR commission settlement

Housing Wire

Under the terms of the settlement agreements reached by both Keller Williams and the National Association of Realtors (NAR), cooperative compensation is still allowed. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said. Department of Veterans Affairs (VA) financing. “A

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Seller Concessions in Real Estate Explained

Realty Biz

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?

article thumbnail

Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. These clients are typically low on funds, which is why they need this type of financing. It would be a disaster for FHA and VA homebuyers,” Evan Potter, branch production manager at Revolution Mortgage.

VA loan 458
article thumbnail

Price Reduction vs. Closing Cost Credit: Which is Better?

Realty Biz

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. The seller credits can help alleviate the buyer's financial burden during home-buying. Often these terms are used interchangeably. Let's take a look.

article thumbnail

What Are Common Terms and Conditions in a House Offer

Realty Biz

What to Know About Terms and Conditions Found in an Offer to Purchase. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Mortgage Financing Clause.

article thumbnail

8 Ways Home Buyers Can Get Their Offer Accepted

Realty Biz

If you want to give yourself a better chance of having your offer accepted, making it as clean and straightforward as possible will appeal to the seller. Any proposal full of contingencies or seller concessions isn’t going to look as good. Typically, the earnest money is 1% to 5% of the purchase price.