what is sellers concession?
Generally Seller concessions are…something the seller is willing to offer or asked to grant – that benefits the other party to the transaction….(namely the buyer presumably) For instance: a seller may offer or be asked to split the cost for a repair before closing, or possibly to offer a credit of some sort toward the purchase such as a carpet allowance, or even amounts toward the buyers closing costs. Basically the term is used to describe a compromise of sorts….offered from or asked of the seller to contribute toward the transaction and usually it is to the advantage of the other party somehow – monetary or otherwise. I believe it could be something as simple as agreeing to make a concession for changing a date for closing but the idea is that the seller is giving something, or conceeding something in the negotiations. I hope that helps get the general idea across without being too long winded. Best to you!
