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. While sellers in some parts of the U.S. Seller concessions hit a record in February, with 45.6% and nearly double the 25.5%

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

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 504

Industrial Seller concession Purchase and sale agreement Agents 504

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 458

Finance Seller concession Loan Officer Loans 458

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 436

Purchase and sale agreement Agents Seller concession MLS 436

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 546

Seller concession Closing costs Staging Inspection 546

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 370

Seller concession Mortgages Loans Finance 370

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 458

VA loan Agents Seller concession FHA loan 458

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 448

Pre-approval Agents Loan Officer Seller concession 448

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 380

Industrial Marketing Seller concession Sales 380

HomeLight

FEBRUARY 16, 2024

Limit or eliminate seller concession requests When crafting an offer that stands out, minimizing or completely avoiding requests for seller concessions can significantly boost your chances. While these can be helpful in some negotiations, they often act as obstacles in competitive scenarios.

Pre-qualification 95

Pre-qualification Seller concession Pre-approval Closing costs 95

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 378

Seller concession Mortgages Lending Loans 378

Housing Wire

APRIL 12, 2023

A total of 45% of participants said home sales in their markets will remain flat for the next three months; 30.3% said sales will go up more than 5%; and 25.2% expected sales to go down more than 5% In the latest report from the National Association of Realtors (NAR), existing home sales rose 14.5% About 47.1%

Mortgages 373

Mortgages Loan Officer Marketing Seller concession 373

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 458

Earnest money deposit Seller concession Loans Lending 458

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. 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.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

HomeLight

MARCH 5, 2024

Get Started What is a seller assist in real estate? A seller assist, also known as seller concessions or seller credit , is an arrangement where the seller of a property agrees to cover part of the buyer’s closing costs. How does a seller assist work?

Seller concession 67

Seller concession Closing costs Title Closing 67

Broke Agent Media

MARCH 18, 2023

Seller Concessions While it’s still a strong seller’s market, Redfin reported that seller concessions are on the rise. During the three months ending February 28th, over 45% provided incentives to buyers, with a record-breaking share of home sales involving both a concession and a price cut.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

Housing Wire

JUNE 6, 2023

Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. “I let them know their options.

Loan Officer 384

Loan Officer Loans Seller concession Pre-approval 384

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. Because homeowners are unwilling to let go of low mortgage rates, they’re not listing homes for sale. In turn, home sales remain low. Low inventory.

Seller concession 98

Seller concession Marketing Sales Industrial 98

The Close

DECEMBER 14, 2023

Gross commission income (GCI) is the full amount of money a real estate agent may receive in exchange for representing a buyer, seller, or both in a real estate transaction. GCI is generally calculated by multiplying the commission rate by the final sale price. Fill in your final sale price and commission rate below.

Agents 97

Agents Seller concession Brokerage Closing 97

Realty Biz

JULY 6, 2023

The seller credits can help alleviate the buyer's financial burden during home-buying. Seller credits at closing can sometimes be the difference whether a buyer can purchase a home. It is worth noting that a seller credit can be the same thing as a seller concession. Often these terms are used interchangeably.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

Housing Wire

AUGUST 25, 2022

Home prices have remained stubbornly high , and there’s tens of billions of dollars in homes for sale beyond the conventional loan limits set by Fannie Mae and Freddie Mac. It comes at a time in which the housing market favors buyers and seller concessions become more frequent. Jumbo loan volume increased 3.1%

Mortgages 397

Mortgages Equity Loans Seller concession 397

HomeLight

NOVEMBER 1, 2021

So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. And if you do, what are the downsides to paying for the buyer’s closing costs as the seller?

Closing costs 77

Closing costs Closing Seller concession Purchase and sale agreement 77

Easy Agent Pro

SEPTEMBER 5, 2023

Carefully consider factors like inventory levels, average sale prices, and average days on the market before making decisions. 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 78

Earnest money deposit Seller concession Purchase and sale agreement Pre-approval 78

Realtor.com

DECEMBER 1, 2022

After the COVID-19 pandemic-fueled homebuying rush reduced the number of homes for sale to all-time lows, the inventory of housing has since rebounded. more homes for sale in November compared with the same month in 2021. That translates to a whopping 240,000 more homes for sale on any given day in November. There were 46.8%

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

Real Trends

JULY 11, 2022

They need to understand: What earnest money is and what happens to it if the sale falls through (and if it doesn’t) How long the seller has to respond to an offer Who is responsible for an inspection What happens if an inspection reveals significant problems that require repair. Concessions. Education here is key.

Seller concession 79

Seller concession Closing costs Inspection Title search 79

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. So, what are closing costs in Delaware?

Closing costs 61

Closing costs Closing Seller concession Homeowner’s association 61

Realty Biz

DECEMBER 5, 2022

The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues. Most of the time, the problems are not significant enough for a buyer to terminate but to either negotiate the price or ask the seller to complete repairs. How to Negotiate Problems Found at a House Inspection.

Inspection 137

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 137

Redfin

JULY 26, 2021

The average cost of selling a home in the US is approximately 10 – 15 percent of your home’s sale price. Though not mandatory, the presale inspection provides insight into what might need to be repaired and what may hinder a sale or cause it to fall through altogether. Almost always, the seller pays the total commission cost.

Seller concession 68

Seller concession Closing costs Inspection Staging 68

RIS Media

FEBRUARY 17, 2022

The report noted, “It’s time to stop questioning whether iBuying is good or bad and start asking if an instant offer is a good option for your next home sale.”. Buy before you sell, sale leaseback, and especially cash offer options for home buyers catapulted the growth of Power Buyers and their accessibility to consumers.

Seller concession 91

Seller concession Loan contingency Mortgages Loans 91

RIS Media

FEBRUARY 28, 2022

Buy Before You Sell, Sale Leaseback and especially Cash Offer options for homebuyers catapulted the growth of Power Buyers and their accessibility to consumers. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1%

Seller concession 83

Seller concession Loan contingency Mortgages Loans 83

Realty Biz

APRIL 20, 2022

When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. The language in the offer to purchase will allow you to escape the sale with your money back. You can’t decide to let the seller know you’re backing out after the inspection clause expires.

Purchase and sale agreement 106

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

Real Trends

JANUARY 2, 2023

If the interest rates do drop and get closer to 5%, agents can expect a mini-boom in which the low rates will re-inspire housing demand significantly and boost overall sales. There will be less price negotiation, more rate buy-downs and more seller concessions.

Seller concession 99

Seller concession Agents Mortgages Equity 99

HomeLight

SEPTEMBER 30, 2021

When the appraisal comes in lower than your offer price, it’s either an opportunity for you to renegotiate the sales price with the seller — or it’s going to completely derail your home sale, and you’ll have to start over again. If they are unwilling to budge on price, you can also renegotiate seller concessions.

Pre-approval 95

Pre-approval Seller concession Finance Banks 95

Realty Biz

JUNE 26, 2023

If the seller believes the cryptocurrency market will experience an upward price movement, they might offer a discount on the home. Purchase activity has declined due to the current economic outlook, high inflation, and affordability challenges, so you could enjoy seller concessions.

Seller concession 77

Seller concession Technology Investor As-is 77

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 441

Seller concession Agents MLS Sales 441

Realty Biz

MARCH 27, 2022

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. Don’t Ask the Seller to Include Excluded Items.

Purchase and sale agreement 117

Purchase and sale agreement Earnest money deposit Seller concession Finance 117