Seller Assist Information

Have you heard the term “seller assist”? It refers to a financial arrangement in which the seller of a property agrees to contribute a certain amount of money towards the buyer's closing costs or other expenses.

This can be a way for the seller to make the property more attractive to potential buyers, especially if other factors might make it more difficult for a buyer to afford the purchase. Essentially, seller assist allows the buyer to finance a portion of the closing cost.

Seller assist is not always available and the terms of the arrangement may be negotiable. The availability of seller assist may depend on the appraised value of the property.

The loan terms may limit the amount of seller assist that can be negotiated. The maximum seller assist with an FHA Loan is 6% of the Purchase Price. For Conventional Loans, the maximum seller assist is 3% if the buyer is placing LESS that 10% Down or 6% if the buyer is placing MORE than 6% Down.

It's important to note that seller assist is only sometimes available, and it's up to the seller to decide whether or not to offer it. NOTE: The assist must be included the initial offer to the seller.

Curious to see some examples? Download our “What is a Seller Assist?” flyer!