I Want to Explain Seller Concessions to My Buyers in Citrus County

Seller concessions can help Citrus County buyers reduce closing costs

By Diana Dodd, REALTOR®
ERA American Suncoast Realty

One of the questions I get from buyers is this:

Can the seller help with my closing costs?

The answer is yes. And right now, I am seeing this more often across Citrus County.

Let me give you a simple example.

Let’s say you are buying a home for $250,000.

Your closing costs might be around $5,000 to $8,000 depending on your loan and other factors.

Instead of you paying all of that out of pocket, we can ask the seller to help.

For example:

Purchase price: $250,000
Seller concessions requested: $7,000

If the seller agrees, that $7,000 can go toward your closing costs.

That means less money you need to bring to the closing table.

This is one of the ways buyers are getting into homes sooner.

I am seeing this become more common as the market balances. Some sellers are willing to help buyers in order to move their home faster.

Each loan type has different guidelines for seller concessions. FHA, VA, USDA, and conventional loans all allow them, but the limits may vary.

If you would like to learn more about loan guidelines, you can review general information here:
https://www.consumerfinance.gov/owning-a-home/closing-disclosure/

Another thing I explain to buyers is that seller concessions are negotiated as part of the offer. This means we look at the full picture including price, terms, and timing to create the strongest offer possible.

Every situation is different, but this is something I always look at when working with buyers.

If you are thinking about buying in Citrus County, seller concessions may help you get into a home sooner than you expected.

Diana Dodd
REALTOR®
ERA American Suncoast Realty
731-363-5833
diana.dodd@eracitrus.com