Ask for Seller Concessions or a Rate Buydown — Not Just a Lower Price

If you’re shopping for a home right now, you have more leverage than you’ve had in years — and how you use it matters.

Roughly 42% of listings are cutting their price. Active inventory is near ~1.17 million homes, the highest since late 2019, and up about 5–6% from a year ago. 

Listing prices have been declining year over year for 36 weeks. Mortgage rates are still above 7% (roughly 7.2–7.4% after the Fed’s September move). 

Sellers are more open to negotiation. Buyers who only ask for a smaller sticker price may be leaving better options on the table.

A price cut isn’t always the best ask.

A modest drop in list price can feel like a win. But depending on your loan, it may not change your monthly payment much — and it doesn’t always help with closing costs. Seller concessions (credits toward closing costs) and rate buydowns often do more for your real monthly budget.

Closing-cost credit: Reduces cash you need at the table. Useful if you’re tight on reserves or want to keep more money for moving, repairs, or an emergency fund.
Temporary buydown (e.g., 2-1): Lowers your payment in the early years while you settle in, refinance later, or grow income.
Permanent buydown (points): Can lower your rate for the life of the loan when the numbers work.

Sometimes the smartest offer is to keep the price closer to list and ask the seller to fund a credit or buydown that improves your payment or cash-to-close.

Why this works in today’s market

Sellers still care about net proceeds and the “sold” story. A modest price cut plus a targeted credit can get you under contract without forcing them into a deep discount. With so many homes already cutting price, you’re not being difficult by asking — you’re being practical.

How to talk about it with your agent and lender

1. Ask your lender to run side-by-side numbers: price cut vs. credit vs. buydown.

2. Decide what matters more for you — lower payment, less cash at closing, or both.

3. Have your agent present the ask as a path to a clean close, not a hardball tactic.

4. Get pre-approved so sellers know your financing is real when you negotiate.

Next step

If rates above 7% have you hesitating, don’t assume the only lever is “wait for a lower list price.” 

Ask about seller concessions and buydowns. 

Call me anytime to keep the conversation going, ask questions, or run numbers.

Mike Nelson, Efficient Lending, Inc 720.419.3016 | mike@efficientlending.net | @mike_lending
 NMLS: 1876539 | NMLS: 1314188

Licensed in Colorado, Texas, and Florida

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