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Old 09-06-2009, 08:12 AM
 
Location: New Jersey
25 posts, read 66,684 times
Reputation: 15

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Hi,

My realtor is completing a contract for a house where the seller has accepted my offer of $245,000 plus a $7000 seller concession (required by the lender).

My question is: on the contract will the total purchase price be $252,000 ? Or will the total purchase price be $245,000 and on the last page of the contract it will be noted that the $7000 concession is required for closing?

Thanks
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Old 09-06-2009, 08:43 AM
 
Location: Hackensack, NJ
777 posts, read 2,381,085 times
Reputation: 387
The total purchase price will be $252,000. It will be noted in the contract that the purchase price includes a concession of $7k.
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Old 09-06-2009, 10:49 PM
 
Location: Central New Jersey
1,289 posts, read 6,098,556 times
Reputation: 300
Just like Kevin said, that is how the contract will read. It will also go in the MLS the same way for the sale purposes.
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