Mortgage Rates Are Still Above 6% — 6 Ways Buyers Are Getting Sellers To Cover Closing Costs
With 30-year mortgage rates still averaging above 6.5% per Freddie Mac, homebuyers are looking for savings wherever they can get them. The most powerful tool in their arsenal right now? Seller concessions.
The timing couldn't be better for buyers. The nationwide housing market has shifted in your favor over the last two years: The Federal Reserve reported that average days on market have risen from 45 to 52 as of May 2026. Earlier this year, the share of sellers making price cuts hit a monthly record high, according to Redfin. And a Realtor.com survey found that 39% of sellers expect to make a concession in 2026, up from 30% last year.
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So, how can homebuyers negotiate the best possible concessions from sellers?
1. Negotiate in Tandem With Price
When you make an offer, package the concession and the price together, and make sure the seller can see their net number clearly.
You — or your realtor — could say, “Rather than offering a lower purchase price, we’re willing to pay full asking but we want a $10,000 seller concession to help with closing.”
Alternatively, you can offer a higher purchase price to compensate for the concession.
As realtor and investor Omer Reiner of Texas Home Buyers put it, “That keeps your money in the bank and allows you to focus on the down payment of the first mortgage payment."
It can also help buy down your mortgage rate and keep your monthly payment lower from day one.
2. Target Motivated Sellers
Some sellers are more willing to play ball than others. By targeting motivated, even desperate sellers, you can negotiate for greater concessions for the closing table.
“Sellers who have cut the price multiple times, or listed the home for 90+ days are much more likely to contribute toward closing costs," said Jon Brooks, housing analyst with Momentum Realty.
3. Consider New Construction
This is the most overlooked source of concessions in today's market. Builders are sitting on inventory and they want it gone.
“Builders are the best source of closing cost help right now, especially if the buyer uses the builder's lender," Brooks said. "In Florida, we are seeing massive incentives equal to 3%-6% of the purchase price.”
On a $400,000 home, that's $12,000 to $24,000 in builder-funded concessions — often without the back-and-forth of a traditional negotiation.
4. Offer Flexibility
Different sellers have different needs and motivations. To negotiate the greatest concession, find out what the seller wants most.
Do they want a faster closing? A slower one? A seller leaseback, to give them a few months to find their own new home? Or perhaps they want no surprises after the inspection?
Ask what would make your offer a slam dunk and then structure it that way.
5. Renegotiate Concessions After the Inspection
Tiana Uribe, real estate broker with TRU Financial Services, recommended buyers ask for a home warranty up-front, then negotiate for a seller concession after the home inspection comes back.
“We typically request a seller credit in lieu of repairs and use the seller credit towards closing costs," Uribe said. "This structure allows the buyer to receive the seller credit and financial assistance towards closing costs and the home warranty to cover repairs or replacement of items if needed during the first year.”
6. Ask For Specific Expenses
Some sellers balk at the notion of offering a fixed amount of cash, but if you ask them to cover specific closing costs, they’ll consider it.
“Buyers often have success asking the seller to cover title fees, escrow fees, HOA transfer fees or the cost of a one-year home warranty,” said broker Jim Gruler of Seeking Agents. “Breaking the request into specific items can sometimes feel more palatable for sellers during negotiations.”
While not all housing markets have shifted in buyers’ favor, try these strategies to get the greatest possible concessions in your home negotiation. Use the leverage you have and let the seller fund your move.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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