RIS Media

JANUARY 4, 2024

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

Seller concession 140

Seller concession Closing As-is Industrial 140

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. We do not want to, as we already have a vehicle through the sellers’ concession. Assisting homebuyers and their agents adds more to an LO’s plate.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

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.

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

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

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.

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Seller concession Marketing MLS Agents 128

RIS Media

JULY 30, 2024

This allowed listing agents to input and advertise the concessions, and contributions to the buyer’s cost burden, that their seller is willing to make. There were three value fields: a simple “yes or no” indicating if… The post California Regional MLS Walks Back Seller Concessions Field appeared first on RISMedia.

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Seller concession MLS Agents Industrial 118

Inman

JULY 29, 2024

California Regional MLS will continue to allow agents to indicate whether sellers will consider concessions but will no longer have the option to specify a dollar amount or percentage.

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Seller concession MLS Agents 185

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 Closing Industrial 496

Real Estate News

APRIL 20, 2024

The Supreme Court passes on a chance to weigh in, objections pile up, and Fannie and Freddie say it’s all right to exclude commissions from seller concessions.

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Seller concession 321

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. But they aren’t the only housing professionals impacted by these changes.

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Seller concession MLS Agents Sales 370

Maximum Exposure Real Estate

JUNE 7, 2021

The post Seller’s Concessions: What is a Seller Concession and How Do They Work appeared first on Massachusetts Real Estate Exposure. Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price. This can make purchasing the home […].

Seller concession 144

Seller concession Closing costs Finance Closing 144

Housing Wire

MARCH 13, 2024

The theory is further dependent on every seller returning to each site following the sale to accurately enter the final sales price AND all seller concessions. Here’s a fact: tax records are frequently inaccurate on the actual sales price, and they never account for seller concessions.

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Seller concession Agents MLS Sales 468

Housing Wire

AUGUST 27, 2024

” In late July, the California Regional MLS (CRMLS) announced that it would be removing the seller concessions-in-price data field from its platform. The field allowed listing agents and brokers to note how much a seller was willing to contribute toward the buyer’s transaction costs, including the buyer broker fee.

MLS 434

MLS Seller concession Agents Industrial 434

Housing Wire

APRIL 15, 2024

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. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

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Agents Seller concession VA loan Finance 532

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

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.

Purchase and sale agreement 468

Purchase and sale agreement Agents Seller concession MLS 468

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

Inman

MAY 29, 2024

The change allows listings in the California Regional Multiple Listing Service to display whether a homeseller is willing to offer concessions in price — including to cover broker fees.

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Seller concession MLS Brokerage Agents 183

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.

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Seller concession Closing costs Closing Mortgages 115

Maximum Exposure Real Estate

JANUARY 4, 2023

The post Seller Concessions: What is a Seller Concession and How Do They Work appeared first on Maximum Real Estate Exposure. Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price. This can make […].

Seller concession 98

Seller concession Closing costs Finance Closing 98

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. The Department of Veterans Affairs (VA) rules prohibit VA borrowers from paying real estate commissions.

VA loan 482

VA loan Agents Seller concession FHA loan 482

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.

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Agents Seller concession MLS As-is 448

Housing Wire

OCTOBER 21, 2022

Lenders, including United Wholesale Mortgage and Rocket Mortgage Pro TPO , launched temporary rate buydowns that allow borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. Rocket launched a similar product in September.

Seller concession 370

Seller concession Mortgages Loans Finance 370

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. This field is negotiable and not mandatory.

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MLS Seller concession Agents As-is 448

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

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.

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Seller concession Agents Brokerage Development 488

Housing Wire

MAY 20, 2024

Similarly, the seller agreement would state the services provided by the listing broker, their compensation and whether the listing broker is authorized to offer compensation to buyer brokers or advertise seller concessions to buyers.

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Purchase and sale agreement Agents Seller concession Closing costs 465

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. . The lender also announced that it has raised its VA jumbo loan limit from $2 million to $4 million, effective immediately.

Seller concession 397

Seller concession Equity Loans Mortgages 397

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. Imagine a first-time , low income or underserved buyer that is purchasing a $250,000 home.

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Pre-approval Agents Loan Officer Seller concession 482

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.

Seller concession 418

Seller concession Investor Mortgages Land 418

Housing Wire

NOVEMBER 16, 2022

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. Buyers are often using that concession to reduce their mortgage payments during the first one to three years through a temporary buydown,” Johnson said.

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

Inman

JULY 18, 2024

The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.

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Seller concession Industrial Agents MLS 183

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.

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Pre-qualification Pre-approval Seller concession Finance 476

Inman

JULY 17, 2024

California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.

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Seller concession MLS Brokerage Agents 200

Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 76