Housing Wire

FEBRUARY 19, 2025

Explain current market conditions: Is it a buyers market, sellers market, or a more balanced market? Review comparable sales: Show your clients how a comparative market analysis (CMA) will be used to help them make an offer and determine the fair market value (FMV). During the tours, highlight features that meet their needs and wants.

Closing

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?

Closing costs

Redfin

FEBRUARY 18, 2025

These costs are in addition to the purchase price of the home (if you’re buying) or the proceeds from the sale (if you’re selling). Appraisal: The amount you can roll in is limited to the difference between the sales price and the appraised value. Seller concessions (up to 4%) Now, let’s talk about seller concessions.

Closing costs

Redfin

JANUARY 10, 2025

And when selling a home, more home equity often equals more flexibility youll have in timing the sale of your property. These costs can vary depending on the sale price and location of the property. Upfront costs Upfront costs generally describe expenses incurred to make the property ready and optimized for sale.

Seller concession

Redfin

JULY 1, 2025

A seller’s credit, also known as a seller concession, is a financial agreement where the home seller agrees to cover some of the buyer’s closing costs. Rather than lowering the price of the home, the seller contributes a credit at closing to help reduce the buyer’s upfront expenses. Yes, but indirectly.

Purchase and sale agreement

Redfin

MARCH 18, 2025

This deposit is usually between 1% and 3% of the homes purchase price, but the amount can vary based on the local market and the agreement between you and the seller. This ensures that neither the buyer nor the seller can access the money prematurely, protecting both parties during the transaction.

Closing

HomeLight

NOVEMBER 22, 2024

While the “ For Sale By Owner ” or FSBO (pronounced “fizz-bo”) route offers money savings and lets you call the shots, it’s not all smooth sailing. This could be the reason it’s not a popular selling approach: only 6% of home sales represented FSBOs in 2024. This primarily enables sellers to save on commission fees.

Seller concession

Redfin

JUNE 9, 2025

Prices increasing fast: Prices rise quickly in hot markets but appraisals rely on older sales data that may not reflect the latest trends. Limited recent sales nearby: In neighborhoods with few homes for sale, there may not be enough recent data to support a high appraisal. Do appraisal gaps affect refinancing?

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Here are the top frequently asked questions that home sellers ask before listing a home for sale, questions relating to home value & pricing, questions relating to contracts, and questions relating to purchase offers. Frequently Asked Questions Before Listing Their Home For Sale When is the best time to sell my home?

Purchase and sale agreement

HomeLight

MAY 23, 2025

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. What are common expenses for sellers in Maine? The size, age, and condition of your home can also affect the cost of preparing it for sale.

Purchase and sale agreement

Redfin

JUNE 5, 2025

There are more homes for sale than there have been in years, but few are selling due to high prices. Sellers are realizing they’re no longer in charge, with many offering concessions. Redfin defined a “seller’s market” as one where the buyers outnumbered sellers by at least 10%, and only seven metros made the cut.

Marketing

The Mortgage Report

JULY 1, 2025

of mortgaged home sales in April, up from 14.2% of mortgaged home sales, their highest April level marked since 2020. Buyers are stretched thin, so they’re toward cheaper homes or loans that let them put less down upfront – like FHA and VA mortgages ,” says Steven Glick , director of mortgage sales for HomeAbroad.

Loans

Redfin

MARCH 4, 2025

Foreclosure can damage your credit score, so you may want to consider a short sale if this is the case. However, your lender will need to agree to a short sale so its best to speak with them as soon as you can. What happens to your home equity when you sell? When you sell your home , any equity you have will be given to you in cash.

Equity

Redfin

JUNE 10, 2025

Limited comparable sales (comps): Appraisers rely on recent sales of similar homes in the area. Their work includes a thorough examination of the property, detailed analysis of comparable sales , and consideration of property condition and features.

Purchase and sale agreement

Housing Wire

JULY 30, 2024

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. The nation’s largest MLS also added a field to indicate whether the amount being offered was a dollar amount of a percentage of the sales price of the home.

Seller concession

Housing Wire

JANUARY 10, 2023

In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. In Q4 of 2022, 22% of Redfin’s home sales included a concession and lower listing price, while 19% included both a concession and a listing-price cut while the home was on the market. Pandemic boomtowns see a rise in concessions.

Seller concession

Housing Wire

JANUARY 11, 2023

In the third quarter of 2022 and the fourth quarter of 2021, sellers gave concessions in 30% of home sales. The percentage represents the highest increase since July 2020, when Redfin started tracking this data.

Seller concession

Housing Wire

JUNE 10, 2021

From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. According to Redfin, the average real estate commission is 5%–6% of the home’s sale price. Seller Concessions. Are you thinking about selling your home?

Seller concession

Keeping Current Matters

FEBRUARY 20, 2025

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows.

Seller concession

Housing Wire

JANUARY 17, 2024

For real estate professionals, this option presents an opportunity to capture more sales. Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. They have been able to reach sales goals with relative ease for over a decade. What is reverse purchase financing?

Finance

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. But its members noticed “many real estate agents are already writing sales contracts that require the buyer to pay the buyer’s real estate commission.”

Industrial

Housing Wire

NOVEMBER 5, 2024

Real estate appraisers also rely on MLS data, including information about buyer broker compensation and seller concessions, in order to accurately appraise properties for homebuyers and lenders. Going forward, Telford is expecting even more variation in seller concessions and agent compensation due to the terms of the NAR settlement.

Seller concession

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

Housing Wire

MARCH 13, 2024

The theory is further dependent on every seller returning to each site following the sale to accurately enter the final sales price AND all seller concessions. Here’s a fact: tax records are frequently inaccurate on the actual sales price, and they never account for seller concessions.

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

FEBRUARY 9, 2021

This leaves you with three options if you want to move forward with the sale. Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. If you had an appraisal contingency in your sales contract, you could do this without any sort of penalty.

Earnest money deposit

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. The Department of Veterans Affairs (VA) rules prohibit VA borrowers from paying real estate commissions.

VA loan

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. How do seller concessions work?

Seller concession

Housing Wire

MAY 20, 2024

While the settlement does not address this issue directly, the Department of Justice (DOJ) Statement in the Nosalek lawsuit does: Buyers would have the ability to request in their purchase offer that the sellers pay a specified amount to the buyer broker from the proceeds of the home sale.

Purchase and sale agreement

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

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 25, 2024

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. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Purchase and sale agreement

Housing Wire

AUGUST 14, 2024

“We are changing our approach with a lot of things, and we are doing that with the collateral we put out, there is a video series we put out, and there are obviously conversation we are having with sellers on what it is they need to do, how it needs to be done and what their options are for doing it,” Harvey said.

Agents

Housing Wire

NOVEMBER 20, 2023

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business.

Pre-approval

Housing Wire

MAY 30, 2024

Currently, listings can be marked as “coming soon,” indicating they are for sale but not yet ready for viewing. Ahead of these changes, Bright MLS will introduce a new field for seller concessions on June 11. Agents will be able to indicate whether a seller offers concessions and specify the amount in dollars.

MLS

Housing Wire

MARCH 27, 2023

In Austin, the total supply of for-sale homes rose 140% year over year in February — the second-biggest increase in the U.S., Pending sales also dropped by 40%. Pending home sales in San Jose also dropped 38% on an annual basis. Pending home sales also declined by 40% year over year in this market.

Industrial

Housing Wire

NOVEMBER 16, 2022

With the rising rates throughout 2022, and the pace of home sales slowing as a result, many lenders are providing seller concessions to encourage buyers to strike a deal. Buyers are often using that concession to reduce their mortgage payments during the first one to three years through a temporary buydown,” Johnson said.

Seller concession