As a Realty Empire agent, when you’re structuring a deal that includes seller concessions, it’s important to document this agreement accurately in the sales contract. Seller concessions are typically used to cover some of the buyer’s closing costs and can be an effective tool in negotiations. To add seller concessions, you will need to input the agreed-upon amount or percentage in the appropriate section of the purchase agreement or addendum. It’s essential that this information is clearly stated to avoid any confusion or discrepancies later in the closing process. Our transaction coordinators can provide you with the necessary guidance to ensure that the documentation reflects the concessions correctly and is in compliance with all local and state regulations.
In addition to the contract itself, you’ll need to communicate any seller concessions to the mortgage lender and closing agent. These concessions can affect the buyer’s loan calculations and closing documents, so timely and accurate reporting is key. Realty Empire’s in-house support team is available to assist you with any questions you may have concerning where and how to properly add seller concessions to your real estate transactions. We ensure that our agents are equipped with the knowledge and resources to navigate these aspects of the deal smoothly, maintaining transparency and professionalism throughout the process.
