@kaitlynseeligmortgages: What is a seller concession and how can it benefit you? A seller concession (or seller assistance) is an arrangement where the seller agrees to contribute a portion of the closing costs or other expenses associated with the purchase of the property. For example, if you offer $300,000 for a home (and it appraises) and the seller concessions max out at 3%, the seller can contribute up to 3% of $300,000, or $9,000, to help with closing costs. These costs can include items like property or transfer taxes, homeowners insurance, appraisal and title fees, and even to buy down your interest rate. Understanding your options with seller concessions can be beneficial in a changing market where interest rates are rising. In an instance when you are considering offering under asking price, explore the power of interest rate buy down programs instead. They can provide protection from a higher monthly payment and help you secure your dream home✨ Ultimately, working with the right lender and realtor can be the difference in strategizing a winning offer! (luckily I know a couple good ones😇) #mortgagelender #loanofficer #delawarerealestate #delawarerealtor #delawarerealestateagent #homebuyingtips #homebuyer #mortgagetips #firsttimehomebuyer #interestrates #delawaremortgagelender #closingcosts #sellerassist #sellerconcession #conventionalloans

kaitlynseelig_mortgages

Open In TikTok:

Region: US

Thursday 24 August 2023 20:10:55 GMT