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What is a seller concession?

Many clients are asking about seller concessions. Seller concessions can be price reductions, credits to help buyers buy down interest rates, closing cost credits for repairs, having the home professionally cleaned, landscaper taking care of lawns prepaid for the next 30 days, so on and etc. Really a seller concession is anything of value the seller is willing to give to the buyer during or at the close of escrow.

Over the past few years seller concessions have been rare. Sellers have been in the driver's seat at the negotiation table or truthfully, there have not been negotiations for the past several years until now. The conversations throughout the past couple of years sounded like, "how much over asking can you do?" "what contingencies can you remove before we are willing to accept your offer?" "throw in your first born and we have a deal!" (just kidding about the first born).

Well times are changing. It is refreshing to see the market normalizing and balancing out for both buyers and sellers. Buyers can now take their time and consider all options when making a home purchase and potentially get some help from the sellers.

Celeste Zupancic


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