Seller Concessions

This is a mandatory field.  When reporting sales in the MLS, the sale price reported to the MLS should be the same sale price that is reported to the state on the Real Estate Transfer Return.  Do not add personal property purchases to the sold price. This is a separate transaction from the sale of real estate.

If there are seller or lender concessions they should be noted in the Private Remarks  as “seller paid closing cost”.

Concessions might include down payment gifting programs, seller paid repair concessions or seller paid closing costs, for example. Any information regarding the sale of a property helps everyone to professionally evaluate each listing. It helps appraisers when doing appraisals and brokers when doing CMAs.

Please take the time to accurately report sold data.

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