The term can take on slightly different meanings depending on exactly where it is used. In the context of a home sale, it generally indicates something like a fee, cost or "giveback" (even action), rather than a reduction of the purchase price, that is commonly an expense of the buyuer or benefit to the seller, the seller is agreeing to "concede" to the buyer. For example "for acceptance of the offer within 24 hours, the seller agrees to credit the buyer $1,000 to be applied toward the closing costs". Lenders are concerned that a deal showing a certain % downpayment may use these to skew the numbers and essesntially involve seller financing or mask the source of funds, or such.
Yes, but the amount of the concession depends on the type of short sale. An FHA Short Sale (under the HUD Pre-foreclosure Sale Program) can include up to a 1% seller concession only if the Buyer is utilizing FHA financing in the purchase. A HAFA Short Sale will allow a seller concession, but the amount depends on the proposed net proceeds to the mortgage servicer.
How desperate are you to sell? It all depends on what is being asked, how much it will cost and whether you think the next buyer will make those same demands.
is seller concession a tax deduction for me the seller
reductions in taxes.
This means payment for a purchase is due in 30 days, net of any discount due the buyer. Buyers would accept it because it delays payment and obtains a discount concession for timely payment. Sellers accept it because they want to make the sale and these are typical terms of payment in their industry.
Yes, but the amount of the concession depends on the type of short sale. An FHA Short Sale (under the HUD Pre-foreclosure Sale Program) can include up to a 1% seller concession only if the Buyer is utilizing FHA financing in the purchase. A HAFA Short Sale will allow a seller concession, but the amount depends on the proposed net proceeds to the mortgage servicer.
How desperate are you to sell? It all depends on what is being asked, how much it will cost and whether you think the next buyer will make those same demands.
Concession.
Concession letter
the person in the concession stand selling the products.
Made a concession: yielded.
application for fee concession for kids
Shanghai French Concession was created in 1849.
Shanghai French Concession ended in 1943.
is seller concession a tax deduction for me the seller
Concession Equipment is a website which sells concession equipment as well as concession stand supplies. They can also be bought from the Concession Stands website.
"The gubernatorial candidate gave his concession speech at 10 PM."