Contracts
A seller in Alaska receives an offer that includes a request for the seller to pay $8,000 toward the buyer's closing costs. This is called:
AA seller concession✓ Correct
BA down payment gift
CA compensating factor
DSeller subordination
Explanation
A seller concession (or seller contribution) is an amount the seller agrees to pay toward the buyer's closing costs. Lenders typically limit the amount of seller concessions allowed as a percentage of the purchase price to prevent inflated prices.
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