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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.
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∙ 17y ago
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Can you get sellers concession on short sale?
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.
Is it a good idea to do sellers concession?
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 the seller concession tax deductible?
is seller concession a tax deduction for me the seller
What is concession tax?
reductions in taxes.
How does a business accept net 30?
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.
Can you get sellers concession on short sale?
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.
Is it a good idea to do sellers concession?
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.
What is the past participle for concession?
Concession.
Sample letter on how to apply for a concession?
Concession letter
What is a concession vendor?
the person in the concession stand selling the products.
What is Conceding?
Made a concession: yielded.
Application on concession fee for your kids?
application for fee concession for kids
What is the verb form of concession?
The verb form of concession is "concede."
When was Shanghai French Concession created?
Shanghai French Concession was created in 1849.
When did Shanghai French Concession end?
Shanghai French Concession ended in 1943.
Is the seller concession tax deductible?
is seller concession a tax deduction for me the seller
Where can one buy concession equipment?
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.
