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What Are Seller Concessions? Here’s Why They’re a ‘Win-Win for Both Sides’

Realtor.com

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?

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What your customer should know before making an offer

Real Trends

Concessions. You are your customer’s best advocate when it comes to evaluating seller concessions. Asking for concessions in a buyer’s market is a good strategy if the seller wants a quick sale. Seller concessions are less beneficial when homes are selling quickly, but each situation is unique.

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Georgia Sellers: Here’s a Round Up of Your Closing Costs

HomeLight

Title search fee. After you accept the buyer’s offer, an attorney performs a title search to ensure the property is free and clear of liens or other conflicts of ownership. On average, title search fees run between $100 to $200. Seller concessions. Counties typically charge $10.00

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Selling a House in Delaware? You’re on the Hook for These 9 Closing Costs and More

HomeLight

In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. It’s customary for the seller to pay for closing costs like title search, title insurance, and transfer taxes. Seller concessions. One of the most common seller concessions is repair credits.

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What Happens After Making an Offer on a House?

Windemere Buying

Getting the home inspected allows you to ask the seller that certain repairs be made, request seller concessions, and renegotiate your offer. A title search will generate a report for you and your lender detailing the history of the home you’re buying to ensure there are no legal barriers against purchasing it.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

If you can negotiate a seller concession like this , it needs to be written into the contract as either a dollar amount or a percentage of the home purchase price. So it might be agreed that the seller takes care of escrow or title search fees, with a buyer dealing with the rest.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

To avoid a delayed closing, you can ask the seller to complete the repairs before purchasing the home (if they can be done quickly) or request some form of seller concession to offset the cost of repairs. Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear.

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