Concessions/Commissions

[Account Closed]

Received an offer on one of our properties and was wondering how concessions/ commissions worked. Do both concessions and commission come off the final price? Such has, you have an offer for 103K: 6% concessions and 5% commission. Are these numbers based solely on the 103K sales price, or do you subtract the commission off of the 103K (5180) then take off concession out of $97,820?

Sorry if it is a little confusing just trying to determine our bottom line based off this current offer. Thanks for all the help

~Greg

[J Scott]

Both numbers come directly out of the contract sales price. In this case, you'd be giving up 11% of $103K in commissions and concessions.

[Account Closed]

That is what I assumed, just wanted to have some "fact" to back that up. Thanks for the reply J Scott..