What is Seller Concessions?
Seller concessions are when a home buyer asks the home seller to pay costs on the home buyer’s behalf. These costs could include:
Title insurance, processing, origination, inspection fees and transfer taxes.
For the buyer, the more costs a seller is willing to assume, the more they’ll be able to put down on their new mortgage, allowing them to save money on their payment. For the seller, bringing money for seller concessions is a great way to get their home sold fast. And if the seller already has another home, getting rid of an extra mortgage payment can be motivation enough.
Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
Oxford Office 248-969-8065
Lapeer Office 810-338-0628