Finance
A Connecticut homebuyer receives a 'seller concession' of 3% of the purchase price toward closing costs. On a $400,000 home, this is worth:
A$8,000
B$12,000✓ Correct
C$15,000
D$4,000
Explanation
Seller concession = $400,000 × 3% = $12,000. This $12,000 can be applied to the buyer's closing costs, reducing the out-of-pocket cash needed at closing (although lenders typically cap seller concessions based on LTV).
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