What Are Seller Concessions?
A seller concession is when the seller agrees to cover part of the buyer’s closing costs — kind of like a little assist to help you get to the closing table.
Why would a seller do this? There are a few reasons:
To help out the buyer and make the deal work.
To attract more buyers in a slower market.
Instead of making certain repairs or updates to the home.
Seller concessions can be a great way to reduce your out-of-pocket costs at closing. It’s something worth discussing with your Kansas real estate agent and KCity Mortgage Loan Officer to see if it’s an option in your offer.
Got questions about how seller concessions work or what you might qualify for? Reach out to a Loan Officer at KCity Mortgage, your local Mortgage Brokerage — we’re happy to help.