Yes, in many cases sellers can contribute toward your closing costs. There are limits based on loan type and how much you’re putting down, but seller concessions are common and often negotiated as part of the offer. OfferPro handles this automatically and lets you play with how much cash you will need on any particular home within the limits of your approved loan program. This is one of the most powerful tools buyers overlook and is far more effective at reducing the cash needed to buy than reducing the price of the property. SearchPro can even search for properties using the assumption that the seller will pay part of your closing costs and thus show you more properties you would be able to purchase if you use a seller rebate/contribution. Instead of focusing only on price, structuring seller contributions strategically can lower your out-of-pocket costs and make purchasing more accessible.
Please consult your Mortgage Advisor for guidance specific to your situation before making changes.
