Seller Concessions

[brealiving_IHB]

<p>Hi All,</p>

<p>Wanted to see if any of you have had any experience in getting concessions from sellers. I've heard that even though prices do not show significant declines, sellers are easing the transactions.</p>

<p>Realtors have said sellers would be willing to pay closing costs, points towards a lower rate, etc.</p>

<p>Anybody have any specific and approximately what percentage of the asking price can we bargain w/ the seller for such payments?</p>

<p>Thanks.</p>

 

[dayday_IHB]

<p>Good question. I see seller incentives sometimes and always wondered about that. </p>

<p> </p>

<p>dayday</p>

 

[IIIrvine_IHB]

Just a reminder that property tax is ad valorem, so I would negotiate first on the price.

 

[nirvinerealtor_IHB]

Most lenders allows up to 3% of seller credit to buyer to cover non-recurring closing cost. Buyer can use the 3% to pay 2% to loan fees and 1% to other fees such as title and escrows. All concessions must be disclosed to lender in writing.