Real Estate Math
A Pennsylvania property is listed for $325,000 and the seller offers to pay 3% of the sale price toward closing costs. If the property sells at full list price, how much is the seller concession?
A$6,500
B$9,750✓ Correct
C$16,250
D$3,250
Explanation
Seller concession = $325,000 × 3% = $9,750. Seller concessions reduce the seller's net proceeds while helping the buyer cover closing costs. The lender verifies that concessions don't exceed program limits (typically 3-9% depending on loan type and LTV).
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