The Buyer's Advantage Nobody's Talking About: How to Use Seller Concessions
Posted by Judy Orr on
Seller Concessions Explained: Closing Cost Help, Rate Buydowns, And Repair Credits
If you’ve been watching home prices and interest rates and thinking, “How is anyone buying right now?”, here’s a little bit of good news. A huge share of sellers are tossing in extras to help buyers make the numbers work. We’re not talking about free throw pillows. We’re talking real money.
Recently, sellers gave some kind of concession in just under half of U.S. home sales. That’s a record-high share for the month of May. In plain English, almost one out of every two sellers is offering some financial help to get their home sold.
If you’re buying, that’s a big deal. The trick is knowing what those concessions actually are, why sellers are doing this, and how…
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