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Updated about 5 years ago,
Help understanding seller concessions
I am selling a single family rental property for 189900.
I just received an offer for 190000 with 11000 seller concessions for closing.It was offered with a Hubbard clause/fha loan
Also the buyers will have no initial deposit as they are using proceeds from the sale of their home and the money on hand will need to go to inspections.
Buyer realtor said this :
They are ready to put their current home on the market as soon as they are under contract. They are also ready to be aggressive and get the home sold so they can wrap this up and move back to where the wife grew up….."
My question is the concession of $11000 seem like alot?
What do I pay real estate commission on 190000 or the 179000
What taxes do I pay on since this is a rental property and will have capital gaines? The 190000 or 179000?
And of course, is this a good deal or should I move on?
Any help would be appreciated..