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Seller's Concession

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buysoon

Junior Member
What is the name of your state? NY

How would I present a seller's concession of 6% in an offer to purchase? I am looking for wording to use in the written document. The seller is for sale by owner.

Is it true that the bank's appraisal must be large enough to cover the purchase price plus concessions?

First Time Home Buyer!
 


efflandt

Senior Member
If it is for sale by owner, what does that 6% have to do with the seller? You make your offer of what you are willing to pay, and it is accepted, countered, or rejected.
 

NotSoNew

Senior Member
efflandt said:
If it is for sale by owner, what does that 6% have to do with the seller? You make your offer of what you are willing to pay, and it is accepted, countered, or rejected.
sellers concession is normally to cover the closing costs. you make an offer on their house for what you are willing to pay and also ask for 6% sellers concession which will cover your closing costs, and they are agreeing to take 6% less then what you offered for the house. you must term it that way for the financing. let me go get my contract and see how its worded.
 

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