Buying A House In Campbell CA: What Kind Of Concessions Can A Buyer Ask From A Seller?
Once inspections have been performed and a buyer finds major or unexpected repairs are needed, the buyer may want to ask for concessions from the seller.
So what kind of concessions can a buyer ask for when buying a house in Campbell CA?
Some concessions a buyer can ask for include, but are not limited to, one or a combination of the following:
- Credit towards buyer’s closing costs:
- The buyer needs to make sure his/her closing costs are equal to or more than the credit amount requested as the lender will not allow a buyer to get cash back should closing costs be less than the credit amount agreed to by the seller.
- This option allows a buyer to set aside money that he/she would have otherwise used for closing costs in order to pay for the repairs after close of escrow.
- Reduction in purchase price:
- This option would reduce the buyer’s monthly mortgage payment and property taxes.
- Most cash buyers choose this option.
- Money be held in escrow to pay for repairs after close of escrow:
- The buyer should consult with his/her real estate agent and/or loan officer before going this route as this may impact the loan underwriter’s decision on the buyer’s loan.
- Seller pays for and performs repairs prior to close of escrow:
- The buyer should request in the addendum/agreement that the repair work be performed by a licensed contractor and with permits, if necessary.
- Sometimes this may not be the best option if the buyer is purchasing a short-sale or bank-owned property as most banks will not agree to do repairs.
Since no two real estate transactions are identical, the buyer should consult with his/her real estate agent on the best option(s) to proceed with.
Trang Beuschlein has extensive experience in the Campbell CA Real Estate market and surrounding cities Real Estate market. Trang is a Campbell CA Realtor who looks out for the best interests of all her clients and helps them get what they want, whether it be in selling or buying a home. For a list of Campbell CA Homes for Sale or homes for sale in any surrounding city, please call (408) 410-5628 or send an e-mail to
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