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Updated almost 8 years ago on . Most recent reply

Kenny Oliver's profile image
Kenny Oliver's profile image
Kenny Oliver
  • from Avondale, Arizona
  • Member since Feb 10, 2017
Connect

User Stats

65
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8
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Kenny Oliver's profile image
Kenny Oliver's profile image
Kenny Oliver
  • from Avondale, Arizona
  • Member since Feb 10, 2017
Connect
Kenny Oliver
  • Avondale, AZ
8
Votes |
65
Posts
Private Lending & Conventional Mortgage Advice

Seller Concession Loss

Kenny Oliver
  • Avondale, AZ
Posted

Hi everyone 

Im in the process of closing on a SFH

the purchase price is 213k with 20% down

The seller concession was $6065 to cover closing costs there is $419 left over due to the "limit im allowed to receive" and my lender said i have to take that loss and theres no way i can get that money. 

is this really how the lending process works? 

do i really have to take that loss or is there a way i can get that money from the seller? 

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