What are seller concessions?
A Concession, sometimes referred to as a credit, is an amount the seller agrees to credit the buyer at the closing of the transaction. This credit can be used by the buyer to cover part of their closing costs or other expenses associated with purchasing the property.
Common concessions can include some or all of these:
1) A seller credit to cover some or all of a buyers closing costs such as loan costs, title fees, buyer's broker agreement, etc.
2) A seller credit to cover repair items such as replacement of flooring, appliances, or roof, etc.
3) A seller credit to cover the cost of a service such as a home warranty.
We work with our sellers to prioritize their net proceeds when analyzing or comparing offers.