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

RIS Media

JANUARY 4, 2024

Seller credits, or concessions, are essential for buyers and sellers to understand. They are financial incentives homesellers offer buyers as part of the closing process. We will… The post What Are Seller Concessions in Real Estate? appeared first on RISMedia.

Seller concession 140

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.

Seller concession 496

Seller concession Agents Industrial Closing 496

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 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.

Agents 532

Agents Seller concession VA loan Finance 532

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

The Mortgage Report

JULY 31, 2020

A seller concession is an agreement where the home seller pays the buyer's closing costs. Learn how seller concessions work here.

Seller concession 115

Seller concession Closing costs Closing Mortgages 115

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. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

VA loan 482

VA loan Agents Seller concession FHA loan 482

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

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. This proposal would also require little change in forms.

Purchase and sale agreement 465

Purchase and sale agreement Agents Seller concession Closing costs 465

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?

Seller concession 121

Seller concession Purchase and sale agreement Closing costs Title search 121

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

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. Rocket launched a similar product in September.

Seller concession 370

Seller concession Mortgages Loans Finance 370

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. Your real estate agent can help if you decide to go this route. You can also: Offer to split the difference. Offer free lease-back, letting them stay in the home while they find their new place.

Earnest money deposit 482

Earnest money deposit Seller concession Loans Lending 482

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

While Saphire can’t completely step away from discussions of buyer broker commissions, especially since he operates in MLS PIN, which did not opt into NAR’s settlement and is still allowing offers of cooperative compensation on its site, he is doing his best to make sure his sellers are fully in the driver’s seat when it comes to commissions.

Agents 448

Agents Seller concession MLS As-is 448

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 […].

Seller concession 98

Seller concession Closing costs Finance Closing 98

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.

Seller concession 397

Seller concession Mortgages Lending Loans 397

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

JULY 4, 2024

Historically, interest rates are not as extreme as they seem, and with proper guidance, potential buyers can still find manageable financing options with lower down payments, down payment assistance and the potential for seller concessions to help cover agent commissions and closing costs.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

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

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. When asked about how purchase business could play out for the rest of the year, Lunde said he is hopeful. “I’m

Mortgages 459

Mortgages Seller concession Loans Equity 459

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. Her client closed on the house and will be saving $341 every month for the first year. in the second year.

Marketing 493

Marketing Loan Officer Loans Seller concession 493

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. The resulting lower HECM production inevitably reduces HMBS production.”

Mortgages 467

Mortgages Seller concession Principal Loans 467

Housing Wire

FEBRUARY 2, 2024

John Lunde Outreach to individual reverse mortgage originators has seemed to indicate a perceived rise in inbound inquiries, but inquiries do not always result in closed loans. When asked if this could be “noise” or if it could lead to a change in volume levels, Lunde expressed cautious optimism.

Mortgages 435

Mortgages Seller concession Loans Finance 435

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., In some areas of the U.S.,

Seller concession 78

Seller concession Closing costs Purchase and sale agreement Inspection contingency 78

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. They don’t have to worry about that changing on them,” Sawyer said.

Loan Officer 397

Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

JUNE 25, 2024

When this happens, it’s time to ask for some seller concessions. Consider requesting the seller cover repairs or closing costs to lower the buyer’s out-of-pocket costs or decrease the amount of financing needed. Keep up with trends As a real estate professional, it’s your job to stay informed.

Staging 397

Staging Seller concession Finance Closing costs 397

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. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately.

Mortgages 417

Mortgages Loan Officer Marketing Seller concession 417

Housing Wire

MARCH 22, 2024

“Normally, I would tell buyers that if they are 10% off the list price, they are dealing in different realities than the seller.” Haydon said she has also recently had offers accepted with sale contingencies, closing cost coverages and a variety of other seller concessions.

Marketing 448

Marketing Seller concession Due diligence Days on market 448

Housing Wire

OCTOBER 16, 2023

Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. Let’s use $10,000 as an example.

Agents 435

Agents Seller concession Closing costs Mortgages 435

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. Ketchmark declined interview requests from HousingWire, but in an interview with Inman in August, he made clear that he’s keeping a close eye on the industry as it moves into a post-settlement environment.

MLS 482

MLS Brokerage Seller concession Agents 482

Housing Wire

OCTOBER 27, 2022

When borrowers show hesitancy due to high mortgage rates, loan officers work with options such as temporary rate buydowns, which allow homebuyers to receive lower mortgage rates at the start of their loan terms by using seller concessions as part of the payment. The 10-year note went to 4.04% from 4.14% in the same period.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. Negotiations can include the purchase price, closing costs and contingencies. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits.

Seller concession 130

Seller concession Closing costs Closing As-is 130

Maximum Exposure Real Estate

JUNE 15, 2023

One such consideration is the negotiation of seller credits. A seller credit, also known as a seller concession, is an arrangement in a real estate transaction where the seller agrees to contribute a certain amount towards the buyer’s closing […] The post What Are Seller Credits at Closing?

Closing 98

Closing Seller concession As-is 98

Housing Wire

AUGUST 25, 2022

The company also launched temporary rate buydowns, which allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Lighter Side of Real Estate

JANUARY 11, 2023

Just months ago, buyers were regularly waiving their rights to even get an inspection done on the house, let alone hoping to have a seller take care of any repairs. Now, many buyers are getting money toward repairs, closing costs, and even mortgage-rate buy-downs. Sellers are willing to negotiate on more than just price.

Seller concession 92

Seller concession Closing costs Inspection Mortgages 92