Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. With the mortgage market rapidly shrinking – some experts believe it might contract to just $1.3

Marketing 493

Marketing Loan Officer Loans Seller concession 493

Housing Wire

JANUARY 17, 2024

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

NOVEMBER 16, 2022

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. The temporarily lower rate is made possible by a lump sum that is deposited into a buydown account. Presented by: Flagstar. primary home purchases.

Seller concession 397

Seller concession Mortgages Fixed-rate mortgage Loans 397

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” 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.

VA loan 482

VA loan Agents Seller concession FHA loan 482

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.

Seller concession 370

Seller concession MLS Agents Sales 370

Housing Wire

APRIL 12, 2023

None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. Of the 155 completed surveys, 32.3%

Mortgages 417

Mortgages Loan Officer Marketing Seller concession 417

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 There is also some pent-up desire to sell being released by a steadier interest rate environment and an overall slower market.

Marketing 448

Marketing Seller concession Due diligence Days on market 448

RIS Media

MARCH 1, 2024

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

Seller concession 128

Seller concession Marketing MLS Agents 128

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?

Seller concession 128

Seller concession Closing costs Purchase and sale agreement Closing 128

Housing Wire

MAY 20, 2024

The National Association of Realtors (NAR) proposed settlement of litigation, recently given preliminary approval by the Court, has raised questions about whether buyers with limited resources, especially first-time home buyers , can afford closing costs. In a seller’s market, that may well occur.

Purchase and sale agreement 466

Purchase and sale agreement Agents Seller concession Closing costs 466

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Lender roadmap: Driving success in a difficult market.

Seller concession 370

Seller concession Mortgages Loans Finance 370

Housing Wire

FEBRUARY 9, 2021

A homebuyer’s guide to a competitive housing market. There’s a chance they may be willing to accept a lower offer on the home — especially if they’ve already moved out, bought another property or it’s a buyer’s market and there’s little demand for the property. Ask for seller concessions to make up for the increased price.

Earnest money deposit 482

Earnest money deposit Seller concession Loans Lending 482

Realtor.com

NOVEMBER 15, 2022

This means navigating the highs and lows of the real estate market and strategizing ways to improve the terms of the deal on the table. One type of incentive that buyers—and sellers—can use is called seller concessions. How do seller concessions work? Watch: 5 Costs Buyers Should Prepare for During Closing.

Seller concession 121

Seller concession Purchase and sale agreement Closing costs Title search 121

Housing Wire

JULY 4, 2024

As Gen-Z enters the housing market , many say they’ve given up on buying a home. Some blame millennials and some blame boomers, while others say that, in fact, boomers are the ones who faced the toughest headwinds when entering the housing market. There’s a lot of finger-pointing and very few solutions.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

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? Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price.

Seller concession 142

Seller concession Closing costs Finance Closing 142

Broke Agent Media

MARCH 16, 2023

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

Seller concession 98

Seller concession Closing costs Sales Mortgages 98

Housing Wire

AUGUST 14, 2024

Saphire, who like Harvey only lists properties on the MLS, but also offers additional al a carte services such as contract review, transaction coordination and negotiation coaching for additional fees, has also adjusted how he is educating sellers on offering commissions to buy-side agents.

Agents 448

Agents Seller concession MLS As-is 448

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Lower production volume means cutting staff and restructuring to better focus on the purchase market, Cohen said.

Pre-approval 418

Pre-approval Marketing Seller concession Mortgages 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. By adding the buydown feature to our Smart Series, we feel that we’re expanding our ability to help potential buyers and sellers come together.”. Caliber was acquired by NewRez in a deal closed in August 2021.)

Seller concession 397

Seller concession Mortgages Lending Loans 397

Housing Wire

APRIL 8, 2024

to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% The refi opportunity may be smaller, but it’s still present, Lunde said. “It’s

Mortgages 459

Mortgages Seller concession Loans Equity 459

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

AUGUST 19, 2024

When we got to the close of day on Friday, we were all kind of waiting to see if it was going to be a big event and then it wasn’t. Most sellers see the value of making sure their deal closes and are open to discussions of some participation in the buyer’s agent fee.” It doesn’t matter,” O’Koniewski said. “If

Purchase and sale agreement 476

Purchase and sale agreement Agents MLS Seller concession 476

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

Closing costs 53

Closing costs Closing Seller concession Title 53

Housing Wire

JUNE 6, 2023

Understanding the borrower Randy Kaufman, a senior loan originator at Notre Dame Federal Credit Union , offered his client the option to float his rate for a transaction that is set to close at the end of June. Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said.

Loan Officer 397

Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

MARCH 6, 2024

to 1,900 loans in February, a drop telegraphed by lagging case numbers and sluggish endorsement activity in January, according to data compiled by Reverse Market Insight (RMI). There may also be some easy, repeatable practices you can take from higher-volume regions that haven’t been fully explored in smaller markets yet.

Mortgages 467

Mortgages Seller concession Principal Loans 467

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.

Staging 397

Staging Seller concession Finance Closing costs 397

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? As Realtors, we had to think creatively to help our sellers sell their homes. To think outside the box, some Realtors began using seller concessions. You are certainly not alone. In some areas of the U.S., So, what do you do?

Seller concession 76

Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

Housing Wire

OCTOBER 16, 2023

However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

Agents 435

Agents Seller concession Closing costs Mortgages 435

Housing Wire

FEBRUARY 2, 2024

This is according to HECM endorsement data compiled by Reverse Market Insight (RMI), and HMBS issuance data from public Ginnie Mae data and private sources compiled by New View Advisors. HECM volume, inbound inquiries HECM endorsements fell on a per-unit basis by 1.7%, according to RMI , to 2,153 loans for the month of January. “The

Mortgages 435

Mortgages Seller concession Loans Finance 435

Housing Wire

OCTOBER 27, 2022

“The 30-year fixed-rate mortgage broke 7% for the first time since April 2002, leading to greater stagnation in the housing market,” Sam Khater, Freddie Mac’s chief economist, said in a statement. The 2-year note, closely tied to the Fed’s interest rate moves, decreased 16 bps to 4.39% on Wednesday from the prior week.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

Housing Wire

AUGUST 25, 2022

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. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

SEPTEMBER 18, 2024

Dawn Pfaff is a free-market evangelist, and that informs how she runs MyState MLS. REsides, an independently owned MLS based in South Carolina, has a similar comment box that can be used for seller concessions. The DOJ isn’t the only remaining legal threat to the real estate industry.

MLS 482

MLS Brokerage Seller concession Agents 482

Housing Wire

AUGUST 30, 2024

We have both an opportunity and, I’d suggest, an obligation to show up for our customers instead of focusing our marketing efforts on showing off how great we are. Laura O’Connor: In marketing for any services industry, it is common to show that a provider has a lot of customers served. Can you expand on that principle?

Branding 435

Branding Agents Technology Seller concession 435

HomeLight

JANUARY 31, 2025

When youre preparing to sell or buy a home, the phrase closing costs will be spoken (and written) on both sides of the transaction table. But what are closing costs? This guide provides an easy overview of closing costs, who pays them, and how much you can expect to pay. Get Started What are closing costs?

Closing costs 104

Closing costs Closing Title Seller concession 104

Lighter Side of Real Estate

JANUARY 11, 2023

A five percent bump might not seem all that great, but if you’ve been thinking about buying, that could be the sign you’ve been waiting to see in the market. Not only are lower prices a good reason to buy now, according to this Real Deal article , sellers gave buyers concessions in 41.9 Sellers are more likely to negotiate.

Seller concession 98

Seller concession Closing costs Inspection Mortgages 98

HomeLight

JANUARY 29, 2021

Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price. Additional closing costs may include any seller concessions, attorney fees, and the buyer’s agent’s commission.

Closing costs 98

Closing costs Closing Seller concession Title search 98

HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing.

Closing 105

Closing Seller concession Sales Closing costs 105