Скачать или смотреть What is a Seller Concession and How do Home Buyers Get Them?

A seller concession is an incentive – an enticement – to a buyer to buy their home. How and when can you get it? We’ll cover that now.
 
Hi, my name is Jon Tripp and I am CEO of The Domus Group and Realtor® with eXp Realty. If you find this information helpful, please share with a friend or tell them to check us out online.

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An important consideration for buyers is whether or not seller concessions are even on the table. Is it even a thing?
 
Let’s step back and look at what a seller concession is. There are ideally two scenarios where you might encounter concessions from the seller.
 
1)    As part of the listing agreement, the seller offers a “decorator’s allowance” or closing cost assistance. This usually indicates a motivated seller.
 
I usually see these types of proactive concessions and think automatically the price is too high and they’re trying to overcompensate for that fact by “sweetening the pot” for an unknowing buyer. This isn’t always the case…but a buyer should have a knowledgeable agent who knows the market and can help decipher whether or not this is the case.
 
2)    The second scenario is when a buyer submits an offer and requests a seller concession such as closing assistance or a credit for repairs. This is something that the seller may not have offered, but the buyer’s agent thought there might be some wiggle room to ask for a concession – or the buyer was willing to submit a strong offer and this concession was only fair to provide for a smooth transaction.
 
The question you have to ask is whether or not you should ask for a seller concession. In a seller’s market, asking for it only demonstrates you don’t understand the climate…and buying a home is going to be a long process for you and your agent.
 
In a buyer’s market, if you submit a lowball offer, asking for additional monies or incentives only serves to anger or insult the seller and they won’t give you the time of day.
 
Another factor that comes into play is the seller’s motivation. If they have to quickly sell their home to keep up with a new job, or family matters, then a reasonable offer with fair concession requests are more likely to be met with some fair negotiations.
 
Make sure you’re working with a professional when buying and selling a home. Negotiating deals with hundreds of thousands of dollars at stake isn’t the right place for someone new to figure this business out.