You just got an offer on your home, and the buyer wants you to pay some of their closing costs also known as seller concessions. What should you do?!
Well, first off-don’t panic. I know what you’re thinking. I often hear things like, “I’m not paying their closing costs.” “They can pay their own closing costs!” Look, the reality is, WHERE the money goes doesn’t matter. What matters is how much you NET on the sale of your home.
Example:
Offer #1: $600,000
Offer #2: $620,000 with $10,000 in closing cost assistance
Assuming all other terms of the offer are equal, you should probably consider that second offer who is asking for closing cost assistance because your net is actually $10,000 more. Try not to focus on the fact the buyer is asking for seller concessions & instead look at the total net offer.
Send this to a friend who wants to sell their home & don’t forget to follow me on Instagram for more tips.
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