07/15/2025
š” Real Estate Term Tuesday: What Are Concessions? š”
Ever heard the term āreal estate concessionsā and wondered what it really means?
In simple terms, concessions are benefits or incentives that one party (usually the seller or landlord) offers to the other party (buyer or tenant) to help close the deal.
š Examples of concessions:
ā¢ Seller covering some or all of the buyerās closing costs
ā¢ Offering a home warranty
ā¢ Paying for repairs or upgrades
ā¢ Providing a rent-free period (for leases)
Concessions can make a big differenceāespecially in a buyerās marketāby making a property more attractive or helping buyers/tenants manage upfront costs.
š¬ Thinking of buying or selling? Understanding concessions could give you the edge you need!
