Your buyers just got their inspection back and they want to ask the seller for $10,000.
Do they ask for a price reduction or seller paid closing costs?
Most agents default to the price reduction. But a $10,000 price drop only saves about $60 a month.
That same $10,000 in seller concessions could fund a 2-1 buydown and save hundreds of dollars a month in the first two years.
In this week’s Monday Market Update, Nikki Erickson from Kevnik Mortgage walks through a real scenario from an agent call last week and breaks down the math so you can have this conversation with confidence.
This week we are covering: ✅ Interest rate update — upper sevens on a 30-year fixed conventional, lower sevens with a buydown ✅ Why buyers pre-approved months ago need to check in with their lender now ✅ Seller paid closing costs vs price reduction after inspection ✅ The real math on a $400,000 purchase — what $10,000 off actually saves each month ✅ How to use seller concessions for a 2-1 buydown ✅ Why how long your buyers plan to stay matters ✅ The $6 per thousand rule of thumb ✅ Whether rates could rise again before year end and what is driving them ✅ Why the 2-1 buydown is a power tool in this market
The general message this week is simple. Do not default to asking for a price reduction. Get your lender involved, run the numbers for your buyer’s situation and budget, and let the math decide. Numbers do not lie.
Example figures are for illustration only — every buyer’s scenario is different, so always run the numbers with your lender.
Share this with every buyer agent you know.
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📞 Connect with Nikki Erickson at Kevnik Mortgage: 📱 Call or Text: 952-484-1584 📧 Email: nikki@kevnikgroup.com 📘 Facebook | TikTok | Instagram: @mortgagesfrommntoaz
00:00 Introduction – Week of October 12th 00:08 Interest Rate Update – Upper Sevens and Why Buyers Should Recheck Their Pre-Approval 00:45 Seller Paid Closing Costs vs Price Reduction – A Real Inspection Scenario 01:20 The Math – What a $10,000 Price Reduction Really Saves Each Month 01:55 Using Seller Concessions for a 2-1 Buydown 02:40 Having the Conversation With Your Buyers – Let the Lender Do the Math 03:05 How Long They Plan to Stay and the $6 Per Thousand Rule of Thumb 03:35 Rule Changes – A Welcome Lull 03:50 Will Rates Go Up Again Before Year End? 04:25 The 2-1 Buydown Power Tool and How to Reach Nikki
Now's The Time - no matter where you are, where you have been, or your current results - By becoming more aware and following a process, you can have whatever it is you truly desire!
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