August 2024
What are seller concessions? GREAT question!
In our current real estate market, many buyers are asking for "seller concessions" which is a credit from the seller to the buyer that can be used for closing costs, to buy their mortgage interest rate down to a lower percentage, for repairs/updates outside of closing, or to pay for their real estate agent representation.
It is not unusual for us to see these concessions in the tens of thousands of dollars in our current market. Many sellers would rather help a buyer get into their home using these allowances than doing huge price reductions. Some sellers are doing both!
There are limits to the amount a seller can contribute based on the buyer's mortgage loan type and down payment amount.
Did you know there are 15+ negotiable parts to the Texas residential real estate contract? This is where having an EXPERIENCED agent negotiating on YOUR behalf is so important!
Whether you are a SELLER or a BUYER, when we onboard you as a CLIENT at AGandy & Co., our fiduciary duty is to YOU.
