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Mortgages
Home Equity and Refinancing
Home Buying

What is seller's concession?


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Answered 2007-02-08 16:36:16

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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Related Questions

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.


How do you spell concession?

Concession


What is the past participle for concession?

Concession.


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 are some sentences with 'concession'?

"The gubernatorial candidate gave his concession speech at 10 PM."


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.


Application on concession fee for your kids?

application for fee concession for kids


Is the seller concession tax deductible?

is seller concession a tax deduction for me the seller


Indian postal concession for despatch of newspapers?

indian postal concession for despatch of magazines


Use concession in a sentence?

New union contract made a concession on the insurance copay.


What is the meaning of concession?

A concession is when someone is granted access to a portion of land for a specific purpose. Like how a concession stand is OK to sell hot dogs in a stadium for example.


What is a sentence with the word concession meaning acknowledgement or admission?

her concession was shown when she admitted the truth to her parents.


Where can I buy concession trailers online?

You can buy concession trailers for a good price at: http://www.jrpconcessiontrailers.com/


What is concession in tagalog?

The word "concession" in English means "pagsang-ayon", "pagpayag", "pagtanggap" in Tagalog.


Where can I find used concession trailers online?

The best website for used concession trailers is probably eBay. There are almost always many concession trailers for sale there at great prices.


How do you use concession in a sentence?

Used as acts of giving in: If you don't make a concession, you will never resolve the issue.


Use the word concession in an sentence?

During intermission you can stop by the concession stand for a Coke and some popcorn.


How can I find concession trailers in my area?

Ebay is actually a good source for finding concession trailers in your area.


What's the best place to hire concession trucks?

There are rental truck companies which specialize in concession and vending and catering truck rentals. Further information on concession trucks for rent can be found on sites such as this one in Dallas: http://www.concession-truck-for-sale.com/concession-truck-for-rent.php


Where could I buy supplies for concession trailers in Dallas?

You can buy supplies for concession trailers in Dallas at www.festivals-and-shows.com. You can also get info at buyitlistit.com/Concession-Trailer-For-Sale-Dallas-TX-8


What is the average concession sold at a concession truck?

My internet search revealed more about the cost of running a concession business. However, I gathered that hot dogs are the most commonly found item at such trucks.


What is the noun for concede?

Concession


What is the abbreviation of concession?

con


A sentence with the word concession?

Bobby and frank were amazed at the amount of concession stands at the state fair. Is this your homework lol?