Finance
In Michigan, 'seller concessions' in a real estate transaction refer to:
AThe seller agreeing to a below-market price
BThe seller contributing funds at closing to help cover the buyer's closing costs or other expenses✓ Correct
CThe seller removing personal property from the home
DThe seller agreeing to make repairs before closing
Explanation
Seller concessions are credits or contributions the seller agrees to pay toward the buyer's closing costs, prepaid items, or other transaction expenses. Lenders typically limit the amount of seller concessions depending on the loan type and LTV.
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