Housing Wire

NOVEMBER 16, 2022

UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account. Presented by: Flagstar.

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Seller concession Mortgages Fixed-rate mortgage Loans 397

Housing Wire

FEBRUARY 6, 2025

Beyond that, Deephaven allows up to 3% seller concessions at closing. Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. If thats not enough, affordability is still a distant dream for most homeowners.

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Loans Mortgages Equity Construction 343

Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception. Yet staggeringly few are aware of its existence.

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Finance Seller concession Loan Officer Loans 482

RIS Media

JANUARY 4, 2024

One such aspect is seller credits, which can play a significant role in real estate transactions. Seller credits, or concessions, are essential for buyers and sellers to understand. We will… The post What Are Seller Concessions in Real Estate? appeared first on RISMedia.

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Seller concession Closing As-is Industrial 140

Housing Wire

JULY 18, 2024

The watchdog group also recommends that both the broker and the buyer should be able to terminate the agreement at any time without a fee; that buyers should not be required to go into mediation or arbitration if there is a dispute; and that any seller concessions should go to buyers, not brokers, to use how they see fit.

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Seller concession Agents Industrial Closing 497

Housing Wire

AUGUST 27, 2024

17 , some MLSs have allowed agents to continue indicating whether their seller is willing to consider concessions. The Bay East Association of Realtors , located in the San Francisco Bay Area, is taking things a step further by removing its “Concessions Considered: Yes/No” field, according to an announcement on Monday.

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MLS Seller concession Agents Industrial 434

Housing Wire

NOVEMBER 5, 2024

Real estate appraisers also rely on MLS data, including information about buyer broker compensation and seller concessions, in order to accurately appraise properties for homebuyers and lenders. Going forward, Telford is expecting even more variation in seller concessions and agent compensation due to the terms of the NAR settlement.

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Seller concession MLS Agents Sales 370

Housing Wire

APRIL 15, 2024

The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees. CHLA appreciates Fannie Mae’s clarification today that seller payment of buyer realtor commissions will not be counted towards seller concession caps,” a spokesperson wrote in an email.

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Agents Seller concession VA loan Finance 532

Housing Wire

MARCH 25, 2024

While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

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Purchase and sale agreement Agents Seller concession MLS 468

Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

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Seller concession Closing costs Purchase and sale agreement Closing 128

Housing Wire

AUGUST 14, 2024

“We are changing our approach with a lot of things, and we are doing that with the collateral we put out, there is a video series we put out, and there are obviously conversation we are having with sellers on what it is they need to do, how it needs to be done and what their options are for doing it,” Harvey said.

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Agents Seller concession MLS As-is 448

Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. It was through seller incentives that loan originator Ryan Grant helped his FHA borrower buy down 3.5 points from the 7.5%

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VA loan Agents Seller concession FHA loan 482

Maximum Exposure Real Estate

JUNE 7, 2021

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” and wondered what it meant? The post Seller’s Concessions: What is a Seller Concession and How Do They Work appeared first on Massachusetts Real Estate Exposure.

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Seller concession Closing costs Finance Closing 142

Housing Wire

MARCH 13, 2024

The basis of the idea goes something like this: in today’s high-tech digital world, there exists abundant online resources whereby any buyer can review any property, compare any property value, draw an accurate opinion of any property value, and even reach out directly to sellers to negotiate a transaction.

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Seller concession Agents MLS Sales 468

Housing Wire

MAY 30, 2024

Ahead of these changes, Bright MLS will introduce a new field for seller concessions on June 11. Agents will be able to indicate whether a seller offers concessions and specify the amount in dollars. Starting Aug. Bright MLS also tells agents and brokers that commissions are negotiable.

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MLS Seller concession Agents As-is 448

Realtor.com

NOVEMBER 15, 2022

One type of incentive that buyers—and sellers—can use is called seller concessions. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. How do seller concessions work?

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Seller concession Purchase and sale agreement Closing costs Title search 121

Housing Wire

MAY 14, 2024

More than 80% of recent buyers asked for at least one seller concession. The most frequently mentioned concessions were a lower asking price, funds to make repairs, and the ability to keep existing appliances or furniture. A report released this week by St. The survey also delved into the use of real estate agents.

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Seller concession Brokerage Agents Development 488

Housing Wire

FEBRUARY 9, 2021

Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. More for Real Estate Enthusiasts.

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Earnest money deposit Seller concession Loans Lending 482

Maximum Exposure Real Estate

JANUARY 4, 2023

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” or “selling concessions” and wondered what it meant? This can make […].

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Seller concession Closing costs Finance Closing 98

Housing Wire

AUGUST 24, 2022

Last week, it launched temporary rate buydowns , allowing borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. . Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market.

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Seller concession Equity Loans Mortgages 397

Housing Wire

NOVEMBER 20, 2023

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. They’re still here and not going anywhere.

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Pre-approval Agents Loan Officer Seller concession 482

Housing Wire

JULY 4, 2024

As we celebrate Independence Day this year, it’s natural to reflect on the American Dream of homeownership. This dream, however, seems to be facing challenges. Fewer real estate transactions are occurring, and many are questioning why. While the demand and the dream persist, their attainability is, increasingly, under scrutiny.

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Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

JANUARY 25, 2023

According to Redfin, San Diego and Phoenix are among the most popular markets for seller concessions. These concessions include offering buyers money for home repairs and mortgage-rate buydowns as homeowners continue to sell homes for below the asking price. The index projected a decline of 6.1% However, not all hope is lost.

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Seller concession Investor Mortgages Land 418

Housing Wire

NOVEMBER 16, 2022

For a 3-2-1 rate buydown, the seller contributes a lump sum at closing, which is put in the buyer’s escrow account. With the rising rates throughout 2022, and the pace of home sales slowing as a result, many lenders are providing seller concessions to encourage buyers to strike a deal.

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Seller concession Mortgages Lending Loans 397

Housing Wire

APRIL 8, 2024

I’m optimistic on H4P, more so than in the past several years simply due to the change in seller concession rules to simplify the process [to be] more like forward,” he said. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% HMBS issuance set a record in 2022, with nearly $14 billion issued,” New View said.

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Mortgages Seller concession Loans Equity 459

Housing Wire

MARCH 14, 2024

People are taking their time to actually come see things now instead of buying site unseen, and occasionally we see some seller concessions, but the traffic and the demand is still there; you might just work a little longer with people because we don’t have anything for sale,” Clarkson said. “I’m

Agents 459

Agents Seller concession Marketing Days on market 459

Housing Wire

AUGUST 19, 2024

According to real estate professionals, the biggest adjustments they had to make this week was to get buyers to sign buyer representation agreements and to explain to sellers that while they don’t have to offer buyer broker compensation , they will most likely see most prospective buyers ask for some help in paying their agent.

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Purchase and sale agreement Agents MLS Seller concession 476

Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I We are seeing a healthy increase in inventory, which we really needed.” Smith attributes the uptick in inventory to a bump in new listings. In comparison, the average U.S.

Marketing 448

Marketing Seller concession Due diligence Days on market 448

Housing Wire

FEBRUARY 19, 2025

Buyers agents are not just bright smiles that open doors were the guide our clients rely on to navigate the homebuying process. This is when your buyers need you the most. Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. Have you spoken to a lender? What is your reason for purchasing a new home?

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Closing Earnest money deposit Due diligence Pre-approval 248

Housing Wire

MARCH 6, 2024

I think the best places to focus right now are giving the H4P a muscular new push due to the seller concessions update , and working with forward mortgage distribution and servicing opportunities to convert forward loans into new reverse borrowers,” he said. That was down 3.6%

Mortgages 467

Mortgages Seller concession Principal Loans 467

Housing Wire

FEBRUARY 2, 2024

Both HECM endorsements and HECM-backed securities (HMBS) issuance saw modest declines in January, although four of the top 10 HECM lenders managed to post slight gains for the month. to 106 loans), Finance of America Reverse (up 17.7% to 592 loans) and Longbridge Financial (up 7% to 258). But things could turn around, Lunde explained.

Mortgages 435

Mortgages Seller concession Loans Finance 435

Housing Wire

APRIL 12, 2023

Incentives in the Market In a higher-rate environment, temporary rate buydowns funded by sellers, lenders or builders were widely offered as an incentive for buyers. The majority of the 155 respondents – about 70% of the total – noted temporary rate buydowns funded by the seller, builder or lender are offered as incentives to buyers.

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Mortgages Loan Officer Marketing Seller concession 417

Housing Wire

NOVEMBER 23, 2022

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. If the process is explained correctly to both parties, sellers and buyers will enjoy seeing each other win and accomplish the goals each party has,” Miller said. “It in the second year.

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Marketing Loan Officer Loans Seller concession 493

Housing Wire

JUNE 25, 2024

After years of a market that favored sellers, the pendulum is slowly swinging back in favor of buyers. Compared to years past when homes sold in hours for thousands above asking, 41% of millennials expect to negotiate with sellers , 26% of whom expect to lower their prices. What is the purpose of a home appraisal?

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Staging Seller concession Finance Closing costs 397

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. It never will be. I’ll explain later.)

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Agents Seller concession Closing costs Mortgages 435

Housing Wire

AUGUST 25, 2022

Homepoint is in a tough spot. Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. In total, Homepoint said the cost reductions made in the second quarter alone should result in $31 million in savings on an annualized basis. Homepoint is hardly alone.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

SEPTEMBER 18, 2024

REsides, an independently owned MLS based in South Carolina, has a similar comment box that can be used for seller concessions. Two suits in Illinois — Batton I and Batton II — come at it from a slightly different angle, as the plaintiffs are buyers rather than sellers. Why shoot twice at a target you’ve already drained dry?”

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MLS Brokerage Seller concession Agents 482