What does "no concessions" mean?

Asked by Squid, Los Angeles, CA Wed Sep 2, 2009

I received a counter offer on a property and the seller says "no concessions.' What does this mean exaclty?

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Emily Knell, Agent, Huntington Beach, CA
Wed Sep 2, 2009
It means the seller is unwilling to pay any costs for you.

Costs for you can include: Your loan closing costs, a home warranty or any transaction fees, escrow fees, title fees etc.

You're responsible to pay all of your own fees associated with buying the property. You can ask your agent to do an Estimated Buyer Cost analysis or get a Good Faith Estimate from you lender to see how much OVER your down payment money you will need to bring in to close escrow.

emilyknell1@yahoo.com
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Karen Hall, Agent, Lynchburg, VA
Wed Sep 2, 2009
Concessions generally refer to items or credits that may be issued to a buyer in the purchase of a property.
For example, the seller may be paying a certain amount of the purchaser's closing or settlement expenses, and this would be referred to as a seller concession.
If you inially included in your offer an amount that you wished the seller to pay such as a decorating allowance, settlement fees, home warranty amount, etc., and the counter states a price and also states no concessions, then it mean that it does not include your previous offered items that may have been included, or advertised.
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