what is a sellers concession

Seller concessions are a dollar amount or a percentage of the purchase price that a seller agrees to contribute to the buyer in order to help cover the buyer’s closing costs. This can be beneficial for home buyers who may not have the funds to cover closing costs or who may want to avoid having extra money tied up in a mortgage. Seller concessions can also make a home more attractive to potential buyers, especially in a buyer’s market, and help expedite the home sale process. However, its important to note that seller concessions can make a buyer less appealing in a sellers market. Ultimately, the handling of seller concessions is subject to negotiations between the buyer and seller, and the amount of seller concessions allowed varies depending on the type of loan and the location of the property. Its important for both buyers and sellers to carefully consider the pros and cons of seller concessions before making a decision.