Coldwell Banker Sea Coast Advantage Blog

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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