When we say “cash back at closing”, it equates to a closing cost credit.

This credit goes from the seller to the buyer at closing and is also known as seller concessions. In a nutshell, the seller is reducing the amount of cash a buyer needs to close, all in an effort to sell the home.

If the Seller is offering a 3% commission to the Buyer Agent, we take 1% and pass 2% on to the buyer as a closing cost credit. 

If the Seller is not offering a Buyer Agent commission, then we will charge 1% to the buyer.

If the Seller is offering a 3% commission on a $500,000 property, this means that the buyer would receive $10,000 cash back put towards closing costs.