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Your Seller Could Pay $10,000+ of Your Closing Costs
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One of the things that surprised me about closing costs is how much room there can actually be for seller concessions.
Depending on the loan and how the deal is structured, a seller may be able to cover thousands of dollars in buyer closing costs. That seems especially relevant for buyers who can handle the monthly payment but are getting crushed by how much cash they need upfront.
I'm curious how common this actually is right now. Are sellers agreeing to meaningful concessions again, or does it still depend heavily on the local market?
1 reply
On the upfront-cash point, a large seller concession doesn’t automatically mean the buyer can use that full amount to reduce cash due at closing. Loan-program limits and rules about which costs are eligible can cap how much applies, so it’s worth comparing the proposed concession with the buyer’s allowable costs before counting on it.
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