Seller Concessions, also referred to as a Seller Contribution, is when a buyer asks the seller for a financial contribution towards their closing costs, escrows and/or pre-paids. Not all sellers will give a contribution and some lenders/loan programs may have restrictions on seller concessions, which may include not allowing them. Now there are a few things both buyers and sellers need to be aware of when it comes to seller concessions. 1. The buyer is basically financing their closing … [Read more...]
I am a full-time REALTOR® specializing in Wellington Florida Real Estate since 2001. Whether you are buying, selling or renting I can assist you with all Real Estate needs.
Today a young lady contacted me and wanted to know if I could show her a home. During the discussion I found out she wasn't approved for a home loan and after I explained the importance of getting pre-approved first she happily spoke with a lender. Turns out not only could this buyer not afford the home she wanted to see, she could not even qualify for a home loan. The first step in buying a home should be getting pre-approved for a home loan and by doing so you will avoid the following … [Read more...]