Buyer RepresentationSeller ConcessionsMEDIUM
Under the new rules, can a seller still offer concessions to help buyers with closing costs?
Correct Answer
B) Yes, seller concessions for closing costs are still permitted
Sellers can still offer concessions to help buyers with closing costs, including potentially covering buyer agent compensation. The change is that such offers cannot be advertised on the MLS.
Answer Options
A
No, all seller concessions are prohibitedB
Yes, seller concessions for closing costs are still permittedC
Only for FHA buyersD
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Related Topics & Key Terms
Related Topics:
seller-disclosure-requirementspurchase-agreement-negotiationsfinancing-contingencies
Key Terms:
seller concessions2024 NAR settlementMLS compensation banclosing costsbuyer broker compensation
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More Buyer Representation Questions
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Which entity enforces the new buyer representation agreement requirements?
The written buyer agreement requirement applies to:
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