The Ins and Outs of Seller Concessions
Home sellers need to be more willing to make concessions in a challenged real estate market .
Lower asking prices are not enough anymore , so sellers should be more willing to negotiate deals , per a recent article in Yahoo ! Finance . It went on to explain that helping with closing costs and giving an interest rate buydown concession ( where the seller gives the buyer a credit , essentially lowering their monthly payments ) are just two examples .
Repairing the property , allowing a closing period of 45 days , and offering a home warranty can also sweeten the
By Stephanie Mojica
deal for buyers .
However , sellers should avoid certain types of concessions . For example , making home improvements ( which are different from repairs ) or giving things like a “ carpet and painting ” allowance .
While the days of simply posting a “ For Sale ” sign are over and creativity is more important than ever , sellers still need to protect themselves .
Some concessions are particularly risky , such as allowing the buyer to move in before closing or allowing the deal to be contingent on when the buyer sells their current home .
Flexibility is important , but so is avoiding gullibility .
MEET STEPHANIE MOJICA
Stephanie Mojica , writer of " How One Writer Shifted From Settling for $ 12 an Hour to Prospering at Over $ 90 an Hour " and shorter books such as " Quick Answers to Frequently Asked Credit Questions ", is an awardwinning journalist with publications such as USA Today , The Philadelphia Inquirer , San Francisco Chronicle , and The VirginianPilot , among many others . She helps executive coaches , business consultants , business owners , attorneys , and other decision makers generate more money online and become the goto expert in their field by guiding them stepbystep through the process of writing and publishing a book .
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