Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

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.

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Seller concession Mortgages Agents Sales 52

The Mortgage Report

JULY 31, 2020

A seller concession is an agreement where the home seller pays the buyer's closing costs. Learn how seller concessions work here.

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Seller concession Closing costs Closing Mortgages 115

Maximum Exposure Real Estate

JUNE 7, 2021

The post Seller’s Concessions: What is a Seller Concession and How Do They Work appeared first on Massachusetts Real Estate Exposure. Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price. This can make purchasing the home […].

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Seller concession Closing costs Agents Finance 121

Housing Wire

NOVEMBER 1, 2022

A 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession. A 2-1 buydown as a seller concession can sometimes make it easier and faster for home sellers to sell their home for a good price. How does a 2/1 rate buydown work? What are the pros and cons?

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Seller concession Mortgages Loan Officer Loans 441

Housing Wire

NOVEMBER 16, 2022

With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account. The temporarily lower rate is made possible by a lump sum that is deposited into a buydown account. Presented by: Flagstar. primary home purchases.

Mortgages 384

Mortgages Seller concession Fixed-rate mortgage Loans 384

Housing Wire

JUNE 10, 2021

From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. Seller Concessions. A concession is when the seller agrees to pay part of a buyer’s closing costs. Are you thinking about selling your home?

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Seller concession Closing costs Mortgages Agents 546

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.

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Agents VA loan FHA loan Seller concession 458

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. Imagine a first-time , low income or underserved buyer that is purchasing a $250,000 home.

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Agents Loan Officer Seller concession Pre-approval 452

Housing Wire

OCTOBER 21, 2022

Lenders, including United Wholesale Mortgage and Rocket Mortgage Pro TPO , launched temporary rate buydowns that allow borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. Rocket launched a similar product in September.

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Mortgages Seller concession Loans Sales 370

Lighter Side of Real Estate

JANUARY 11, 2023

There’s less competition from other buyers, sellers are willing to negotiate on price, you don’t have to waive inspections as often, and you stand a good chance at having a seller offer you money for repairs, closing costs, and/or a mortgage-rate buy-down.

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Seller concession Mortgages Inspection Closing costs 76

Housing Wire

AUGUST 24, 2022

Last week, it launched temporary rate buydowns , allowing borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. . The lender also announced that it has raised its VA jumbo loan limit from $2 million to $4 million, effective immediately.

Seller concession 384

Seller concession Mortgages Loans Equity 384

Housing Wire

JANUARY 25, 2023

According to Redfin, San Diego and Phoenix are among the most popular markets for seller concessions. These concessions include offering buyers money for home repairs and mortgage-rate buydowns as homeowners continue to sell homes for below the asking price.

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Seller concession Mortgages Investor Marketing 397

Maximum Exposure Real Estate

SEPTEMBER 25, 2023

A seller assist, also known as a seller concession or seller credit, is a feature of loan programs that allows the seller to help the buyer by covering a portion or the entire closing costs. This option is desirable for buyers with limited cash and sellers facing challenges selling their properties.

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Seller concession Closing costs Loans Closing 98

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.

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Mortgages Seller concession Loans Lending 381

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

Maximum Exposure Real Estate

JUNE 15, 2023

One such consideration is the negotiation of seller credits. A seller credit, also known as a seller concession, is an arrangement in a real estate transaction where the seller agrees to contribute a certain amount towards the buyer’s closing […] The post What Are Seller Credits at Closing?

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Housing Wire

MARCH 27, 2023

Phoenix is also among the markets with the biggest upticks in seller concessions — another indicator of dampening demand. Phoenix was another magnet for remote tech workers during the pandemic — and the housing market in this city has experienced a similar fate.

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Seller concession Marketing Industrial Mortgages 382

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.

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Seller concession Mortgages Banks Marketing 98

Real Trends

NOVEMBER 2, 2022

A 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession. A 2-1 buydown as a seller concession can sometimes make it easier and faster for home sellers to sell their home for a good price. How does a 2/1 rate buydown work? What are the pros and cons?

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Seller concession Mortgages Loan Officer Loans 107

Housing Wire

FEBRUARY 9, 2021

Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. Your real estate agent can help if you decide to go this route. You can also: Offer to split the difference. Offer free lease-back, letting them stay in the home while they find their new place.

Earnest money deposit 458

Earnest money deposit Seller concession Mortgages Loans 458

Bigger Pockets

JANUARY 12, 2023

New data from Redfin shows that seller concessions, such as mortgage rate buydowns and cash credits for repairs and closing costs, are becoming increasingly common as high mortgage rates curb demand for […].

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Seller concession Mortgages Closing costs Marketing 87

Housing Wire

OCTOBER 16, 2023

This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. It’s essential for potential homebuyers to understand that a higher credit score can lead to a lower interest rate, which can significantly impact their monthly mortgage payments over the life of the loan.

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Agents Mortgages Seller concession Loans 410

Housing Wire

JUNE 6, 2023

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. Seller concessions are abundant in some of the markets that have cooled – including Oregon and Arizona – and his clients are able to take advantage of that, Sawyer noted.

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Loan Officer Loans Mortgages Seller concession 384

Housing Wire

APRIL 12, 2023

In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately. For example, a 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession.

Mortgages 380

Mortgages Loan Officer Marketing Seller concession 380

Easy Agent Pro

SEPTEMBER 5, 2023

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. By offering to cover these costs, you reduce the financial burden on the seller and make your offer more enticing.

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Earnest money deposit Seller concession Marketing Purchase and sale agreement 80

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.

Mortgages 384

Mortgages Fixed-rate mortgage Loan Officer Loans 384

Broke Agent Media

JANUARY 13, 2023

Next up was the favorable jobs report and the Fed’s less than bullish response to it, followed by openly bearish Goldman Sachs projections and the increase in seller concessions. . Tune in to hear advice from both on what agents should be doing to prepare sellers and keep their clients well-informed. in December. .

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Mortgages Seller concession Agents Marketing 52

HomeLight

JUNE 16, 2022

You can probably expect to run into these common expenses for home sellers in California: Prepping your house for sale. Seller concessions. Seller concessions. Seller concessions might be a cost to sell a house in California. You may not have to make concessions to make the sale. Realtor® fees.

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Seller concession Agents Closing costs Mortgages 76

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.

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Closing costs Closing Seller concession Purchase and sale agreement 84

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. With this, local home prices escalated, pricing out local residents and contributing to price drops and seller concessions.

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Seller concession Marketing Mortgages Agents 98

HomeLight

JUNE 14, 2022

You can probably expect to run into these common expenses for home sellers in Chicago: Prepping your house for sale. Seller concessions. Seller concessions. Seller concessions are another cost to sell a house in Chicago. You might not have to make concessions to make the sale. Closing costs.

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Seller concession Agents Purchase and sale agreement Closing costs 79

Housing Wire

AUGUST 25, 2022

The company also launched temporary rate buydowns, which allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgages 397

Mortgages Loans Equity Seller concession 397

HomeLight

JUNE 16, 2022

You can probably expect to run into these typical expenses for home sellers in Massachusetts: Prepping your house for sale. Seller concessions. Seller concessions. Seller concessions are indirect costs that you may offer to the buyer to make your home more attractive. Seller concessions.

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Seller concession Agents Closing costs Mortgages 77

McKissock

JUNE 14, 2022

Increase in seller concessions. A change in the prevalence of seller concessions within the market provides insight into current and changing market conditions. An increase in seller concessions indicates that sellers have to provide impetus to buyers.

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Seller concession Marketing Mortgages Renovation 75

HomeLight

SEPTEMBER 27, 2022

Seller concessions. Negotiations with a buyer can result in additional indirect costs related to seller concessions or buyer incentives, although Candelaria believes that “a lower price is better than a concession.”. Seller concessions. $0-$19,500. Do not offer seller concessions or buyer incentives.

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Seller concession Closing costs Agents Mortgages 64

HomeLight

JUNE 14, 2022

Seller concessions. Seller concessions can contribute to the overall cost to sell a house in Seattle. These indirect costs may include seller concessions and buyer incentives. Although sellers don’t have to make concessions to make the sale, maybe you want to make your house stand out from the rest?

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Seller concession Agents Closing costs Mortgages 90