Coldwell Banker Sea Coast Advantage Blog

  After selling our home for a move across the state, my husband and I wondered if now was the right time to buy a home? We had to move quickly, due to a job start date as well as a super-quick sale of our home. Upon arriving in our new town we set up camp in a rental with our three children and started researching. The very first thing that we did, upon the advice of various realtors and lenders, was to make sure that our finances were in good order. No matter our choice to buy or rent, we needed to be able... read more
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What are Seller Concessions?

Posted by Coldwell Banker Sea Coast Advantage on February 02, 2014 in  appraisal  closing costs  financing a home  home buyers  home settlement  mortgage  seller concessions  seller net proceeds
When a buyer purchases a home with a mortgage, they are required to pay a certain amount of closing costs on top of the actual purchase price of the home. Some buyers discover during their home hunt that they have enough money saved for a down payment, but not for the closing costs. Rather than wait to save more money to purchase a home, they’ll request the seller to pay these closing costs. This monetary contribution is called a seller concession or seller contribution and is only applied to closing costs. W... read more
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