Seller Consessions

General Real Estate Investing
1

Hi,

I did a glossary search, but did not find this. What is a seller concession? I get that it is a credit, but - How does it work?

If I wanted to buy a house, but I was low on funds, could the seller’s concessions be my down payment and closing monies?

What do I have to put into the deal, and

What funds cannot be part of the concessions?

Thanks.

2

A seller concession is when you negotiate with the seller to pay a certain portion of closing costs. It is usually a percentage or a set amount.

This is how many people accomplish closing with no money out of pocket.