Should you always ask for Concessions?

Question

Jonna Weber · Answer

In many cases, the cleaner the offer, the better.

Russell Brazil · Answer

Every situation is different. Sometimes you want a nice clean offer like Jonna said. Sometimes you can ask for concessions. Sometimes you can offer over asking and ask for that amount back as a concession.

Your agent should be able to advise you as to what to do in a particular situation.

Jonna Weber · Answer

@Walmsley Gedeon - As a listing agent, I personally like to see an offer with a straightforward bottom line offer price without closing costs or extra things thrown in.  Many people will structure a "full price" offer, but then try to throw in a bunch of seller paid closing costs.  Like @Mike Cumbie stated, it can weaken the strength of the offer.  If you want closing costs to be as low as possible, you could try to take a little higher interest rate to get rid of a loan origination charge.  Nothing inherently wrong with asking for closing costs, but I find that you have a higher chance of losing out if you are in a multiple offer situation.  We like to see offers as "clean" as possible.

Mike Cumbie · Answer

Hi @Walmsley Gedeon,

I don't recommend it unless you need the cash to close. Concessions are really just kicking the can down the road. For new buyers or those cash strapped it may be needed but it also speaks to the strength of the offer. If you don't need them I feel it shows a stronger hand without them.

Just my thoughts and good luck!

Should you always ask for Concessions?

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