What is a Seller’s Assist and How Can It Help You Buy a Home?

A lot of you have been asking about how to buy a home if you can afford the monthly payments but are finding the down payment a bit challenging. This is where a Seller’s Assist can be incredibly helpful. Recently, I put a property under contract for one of my clients who found their dream home, but there was a bit of a bidding war. They knew the only way to secure the home was to offer at least the asking price. While the down payment was doable, it was still a bit tight. So, we decided to offer $10K over the asking price but request a $10K Seller’s Assist. This way, the seller got their asking price, and my clients were able to purchase the home without stretching their budget too much.

Here’s how a Seller’s Assist could be the solution for you: simply put, a Seller’s Assist allows the seller to cover a portion of your closing costs, which reduces the amount of cash you need at closing and makes buying a home more affordable. Depending on the type of loan, the seller can contribute up to 6% of the purchase price toward closing costs, which takes a lot of pressure off your budget.

Here’s how a Seller’s Assist can benefit you:

• Lower Out-of-Pocket Costs: Helps reduce the cash needed at closing.
• More Flexible Budget: Leaves extra funds for moving expenses, home improvements, or savings.
• Makes Homes More Attainable: Especially helpful for first-time buyers or those with limited upfront funds.
• Win-Win for Buyers and Sellers: It makes your offer more attractive to sellers while giving you financial breathing room.

I have many more stories of how a Seller’s Assist has helped my clients cover down payments, repairs, and more. If you’re thinking about buying, let’s talk about how we can use a Seller’s Assist to make your dream home a reality!

Gellman PA Properties
325 Chestnut St. Suite 1300
Philadelphia, PA 19106
267.259.0134
gellmanrealestate@gmail.com