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What is a seller's concession?

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It works like this: suppose you agree on the price of the house at, say, $200,000. You then ask the seller for a 3% seller concession. What this means is that you add 3% to the price of the house. That's right, you're now going to pay $206,000 for that house -- but the seller is going to give you that $6,000 back when the sale takes place. You're going to use that money to cover all of your closing costs.

It is also a term that can be used for a selling venue at a fairgrounds, amusement park, etc. (concession stand)
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What is the definition of a seller's concession?

Answer . Seller's Concessions or seller contributions are the amount or percentage of closing costs that the seller agrees to pay from his or her proceeds. This amount sho

What is a seller's concession?

It works like this: suppose you agree on the price of the house at, say, $200,000. You then ask the seller for a 3% seller concession. What this means is that you add 3% to th

What is the purpose of a home seller's concession?

  Answer   Seller-paid concessions, when used properly, can mean the difference between closing a home sale and losing one. A concession is anything of value added to

If there is money left over from the seller's concession that is put into the price of the house by the buyer who gets the remaining money that is technically put into the purchase price?

  Answer   In my experience words like "concessions" and "incentives" can be used rather loosely. Real estate transactions are often simple, often complicated and al

Can a Seller's Concession be for repairs and included as a Rider on a contract?

  Answer   It happens all the time, but you have to have a realtor that works for YOU. Remember that the realtor works for the seller and is paid by the seller, UNLE

Is the seller's concession included in the fees?

  Answer     The wording of your question needs some work. I am curious which fees you are referring to.   Generally in a home purchase, a seller is allowed

What would the total mortgage amount be if you offered 82000 including the 3 percent seller's concession?

  Answer   These are regular Fannie mae/Freddie Mac guidelines..... I am not talking about any usual programs.     Ok, you offer $82,000 with 3% seller's conc

What is seller's concession?

  Answer     The term can take on slightly different meanings depending on exactly where it is used.     In the context of a home sale, it generally indi

Is seller's concession taxable income?

Yes, a seller's concession stand is taxable income. Depending on  the state that tax rate would vary. Charities are refunded tax  payments if filed under 'Unrelated Business

What is a seller's mandate?

  A Seller's Mandate is the person with legal authority to represent the seller in negotiations with potential buyers in the sale of commodities.   The Mandate will hav