Seller Concessions - A Smart Strategy To Get Your House Sold
“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.” -National Association of Realtors (NAR) What Are Seller Concessions? Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR) , nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions: Covering Closing Costs The seller pays for part (or all) of the buyer’s closing costs, like appraisal fees, title insurance, or loan fees. Price Adjustments Instead of making repairs, a seller might lower the purchase price to make up for updates the buyer will need to tackle. Adding a Home Warranty A seller may throw in a home warranty, giving the buyer peace of mind key repairs will be covered in the first year. And don’t worry...