I’ve been a real estate agent for over a decade, and some of the most strategic moves I’ve seen buyers make had nothing to do with shaving a few thousand off the listing price. It was all about structuring the right terms.
As the number of listings starts to tick up, buyers are gaining more leverage. If you’re shopping for a home, now is the time to get creative. Almost every part of a transaction is up for discussion.
Here are some of my favorite tactics, along with examples that have helped my clients save money, reduce stress, and get more out of their home purchase.
A seller concession is when the seller agrees to cover some or all of your closing costs, which usually run between 1% and 2% of the purchase price. These credits can go toward items like attorney costs and title insurance.
Nearly half of the deals I work on include this kind of credit. It’s especially helpful for buyers who have enough for the down payment, but are tight on cash to close.
