How common are concessions in the current market?

[Dan Anderson]

I've lost several bids on single family homes recently.  I'm wondering  if it is because we are asking the seller for closing costs.  Are buyers still successfully getting sellers to pay closing costs in the salt lake valley or is that practice dying out?  

[Henry Lazerow]

In Chicago we ask for a closing cost credit nearly 100% of the time with 2-4 units. But we go in $10k higher then what would of normally offered and then ask for a $10K seller closing cost credit so the seller still nets out the same. 

The trick is you need to call list agent and explain to them what it is so they don't get confused. I also like to send a bank statement showing my client has more then the cash for downpayment in the bank so sellers agent knows they are a strong buyer and just doing this credit to maximize their % return.