What Is a Seller Credit? How to Get a Seller to Pay Closing Costs

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Wondering how to get closing costs waived? Seller credits could be the answer! What are seller credits? In today's video, we’re getting into this MASSIVE cost-saving move savvy homebuyers can make.

When buying a house or investment property, closing costs often set us back. These can be as low as a few thousand dollars or well into the five-figure range. Add that to the down payment, and your cost-to-close has dramatically increased. Thankfully, if you’re wondering how to get a seller to pay closing costs, we have an answer!

Seller credits can help reduce your cost-to-close by thousands or tens of thousands, and it’s all paid for by the seller! How do you convince a seller to shell out the funds to cover YOUR closing costs? Licensed mortgage advisor Hannah Escher is back to show you what to do, plus walk through everything you need to know about seller credits and how much they can save you!

00:00 Closing Costs Explained
02:39 How Much Are Closing Costs?
03:19 Seller Credits 101
04:41 Seller Credit Limits
09:03 Pros and Cons of Asking for Credits
10:49 Making Your Offer Competitive
14:02 Asking for Credits in 2024?