Finance
A NH homebuyer who receives a seller credit at closing must understand that the credit:
AIs cash given directly to the buyer at closing
BIs applied to the buyer's closing costs or pre-paids, reducing the amount the buyer needs to bring to closing✓ Correct
CReduces the purchase price on the deed
DMust be repaid within one year
Explanation
A seller credit (concession) is a credit on the closing statement that reduces the buyer's out-of-pocket costs for closing fees and pre-paids. It is not cash to the buyer — the sales price remains the same but the buyer's cash-to-close is reduced.
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