Thinking about selling your home? Offering seller concessions might just be the edge you need to close the deal faster or attract more buyers. Not sure what seller concessions are or how they work? No problem! Here’s everything you need to know in a clear and straightforward way.

What Are Seller Concessions?

Seller concessions are when you, as the home seller, offer to cover some of the buyer’s costs in the transaction. This can make your property more appealing, especially for buyers who need help with upfront expenses. By offering to cover certain fees, you give potential buyers a bit more flexibility, which could make your home their top choice!

Why Should You Offer Concessions?

• Attract More Buyers: Buyers with limited cash might not have enough for both a down payment and closing costs. Your concessions could make your home stand out.
• Close the Deal Faster: Sweetening the deal with concessions could encourage buyers to make an offer quickly.
• Win Over Competitive Markets: In a competitive market, offering concessions can make your home a more attractive option over others.

Common Concessions You Can Offer

Here are a few examples of what you could cover:

• Closing Costs: Help the buyer by covering fees such as loan origination, appraisal, or inspection fees.
• Home Repairs or Updates: Offer to fix up the home or pay for updates as part of the deal.
• Property Taxes or HOA Fees: Pay a portion of real estate taxes or homeowners’ association fees to ease the buyer’s financial burden.

How Does It Work?

Seller concessions can be either:

• Advertised Upfront: Included in your home’s listing to entice buyers.
• Negotiated: Offered during the purchase agreement discussions. Once agreed, concessions become part of the official contract.

What About Limits?

There’s often a cap on how much you can offer in concessions, usually set by the buyer’s lender or state law. However, covering a buyer’s agent’s fee is excluded from this cap, so be sure to discuss the options with your real estate professional.

Work With a REALTOR® for Expert Guidance

When you work with a REALTOR®, you’re partnering with a professional who prioritizes your best interests. They can help you decide whether offering concessions is the right move and guide you through the process.

Ready to Maximize Your Home Sale? Let’s Get Started!

As an experienced REALTOR® specializing in helping homeowners navigate the selling process, I can guide you through every step of your home sale, from pricing your property to negotiating concessions that attract the right buyers. My personalized approach ensures that your goals are met while minimizing the stress of selling your home.

Contact me today for a free consultation! Let’s discuss how seller concessions can work for you and create a strategy to get your home sold quickly and for the best price.