Home equity is the difference between the value of your home and the amount you still owe on your mortgage. It is essentially the portion of your home that you own outright. For example, if your home is worth $300,000 and you have a mortgage balance of $200,000, then you have $100,000 in home equity.
A seller concession is a financial incentive offered by a seller to a buyer in a real estate transaction. This can take the form of a credit towards closing costs, a reduction in the purchase price, or some other form of financial assistance. Seller concessions are a common feature of real estate transactions, especially in