Tag Seller Concessions

Tag Seller Concessions

Allowed Seller Contribution Toward Closing Costs on Delaware Purchase Transactions

John Thomas December 26, 2012 Tags: , , , , , ,
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How much can the Sellers contribute toward a Buyers closing costs and pre-paid items?

John R. Thomas with Primary Residential Mortgage in Newark, Delaware will answer how much the seller can pay toward closing costs and pre-paid items based on the loan program being used.  If you have questions or would like to apply for a mortgage loan please call 302-703-0727 or you can APPLY ONLINE.

When a Buyer makes an offer to purchase a property, they can negotiate for the sellers to pay money toward closing costs and pre-paid items as long as it is written into the sales agreement.  On the Delaware Real Estate Sales Agreement this is typically written into section 32 of the sales contract.  A seller is allowed to pay money towards closing costs, prepaid items, and reserves.  The seller cannot however contribute toward the down payment. Keep Reading...