Seller concessions for repairs - CAUTION! beware of limits and negotiate a WIN

Seller concessions for repairs is common and there are a lot of factors that go into the amount and agreement between buyers and sellers. This video explains how it works, and some issues to be aware of as the seller and the buyer.

What is a seller concession? Seller concessions are funds that show as a deduction on the seller side and added as a credit to the buyer side, in this case to be used for repairs. The buyer is asking the seller for a credit at closing for repairs.

It can also be called a seller contribution, as the funds can be used for whatever the buyer wants, even though the intention is to make up for a repair. A credit can also be called a seller subsidy or a repair allowance at closing.

Included are seller concession examples.

Some may say a seller credit for repairs i is a credit in lieu of repairs, yet lenders don't typically love that language. Asking seller to pay for repairs can be a win-win so the seller doesn't have to be bothered with effort in getting repairs completed.

If you'd like more details explaining a seller contribution please watch https://youtu.be/4eTQV4kHYmo

Disadvantages of seller contribution can be found here https://youtu.be/loGHAJWGQjQ

My name is Alisia Krastel, and I’m a REALTOR for 14 years, a mother hustler, with 3 kids and owner of 2 businesses.

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Видео Seller concessions for repairs - CAUTION! beware of limits and negotiate a WIN канала Alisia Krastel