November Opportunity of the Month
Mckinze Casey November 8, 2023
Mckinze Casey November 8, 2023
Last month, 60% of transactions included a "seller concession." def. the seller provides a portion of their proceeds to the buyer to use towards closing costs or prepaid lender fees (i.e. rate buy down!)
This allows the buyer to leverage the additional cash for future flexibility.
<1% of all transactions included a seller concession VS 60% of all transactions included a seller concession
Today, here are how our clients are taking advantage of this opportunity:
1) OFFER - Including a concession request, in section 4.2 when offering on a property, to use towards covering closing costs and pre-paids, as allowed by lender.
2) TEAM WORK - Work with your lender to understand how much $ is needed in a concession to lower your monthly payment to a more comfortable number.
3) LIQUIDITY - Use the seller concessions towards transaction costs to ensure more $ remains in your pocket for upgrades or that fun new couch you have had your eye on.
Case Study
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