Escrow & Title
A Nebraska seller offers to pay 'up to $5,000 in buyer's closing costs.' This provision in the purchase agreement is:
AA seller concession that reduces the seller's net proceeds✓ Correct
BA credit that increases the purchase price
CProhibited by RESPA
DOnly valid for FHA/VA loans
Explanation
Seller concessions for buyer's closing costs reduce the seller's net proceeds. The seller receives the full purchase price but pays a portion back to cover buyer's closing costs, effectively reducing their net.
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