What is a concession in real estate? – David Reecher
A concession is a benefit or discount offered by the buyer or seller to help sell a home and close a deal. Concessions are usually specified during negotiations and included in closing costs. Examples include covering the costs of new appliances, moving expenses, or repairs to the home. Because concessions can impact the selling price of a home, appraisers may take concessions into consideration when evaluating comparables and appraising the value of the home.