The 2/1 Buydown Seller Concession
The seller’s housing market is quietly shifting to a buyer’s market, with seller concessions making their 2022 debut. Higher interest rates are taking many buyers out of the market, leaving more homes up for grab with less competition. This shift has sellers lowering their prices and offering concessions to get their homes sold. A popular seller’s concession is the 2/1 Buydown because it reduces the buyer’s interest rate by 2% the first year and by 1% the second year for a very reasonable seller concession.