How seller concessions works in real estate

[Augusta]

Sellers are always looking for ways to lure buyers to buy their property and one of the ways they achieve this is by them offering concessions to incentivize buyers. This is done to sweeten the deal. so that it will lure the seller to purchase the property


The concessions can be as a contribution towards the buyer’s closing costs which buyers always have problem of paying up to a specific amount or to an amount approve by a buyer’s lender. So all of these will help the buyer to have more money saved even after the purchases.

What do you think of this?

 

[manasha]

Seller concessions may be an effective technique for incentivizing bidders and closing a transaction. The seller can make the acquisition more affordable for the buyer and help the deal complete faster by agreeing to pay a percentage of the buyer's closing fees.

Nonetheless, both buyers and sellers must be aware of the possible risks and downsides of seller concessions. Offering too many concessions, for example, might result in a reduced net sale price for the seller, affecting their bottom line.