Every Staten Island Seller Should Know What a Concession Actually Costs Them

You accepted an offer on your Staten Island home.

The price looks great. Then the buyer starts asking.

• "Can you cover closing costs?"

• "Can you give us a $5,000 credit for the roof?"

• "Can you throw in the washer and dryer?"

• "Can you leave the window treatments?"

Each one feels small. You want to keep the deal moving.

Here is the truth. Concessions are not small. Each one reduces your net proceeds, and sellers routinely give away $10,000 to $30,000 in concessions they never consciously tracked.

Let me show you what each one actually costs you.

I am Allison Mireau with Real Connect Group.

What a concession actually is

Anything you give up to the buyer at or after acceptance.

• Price reductions

• Closing cost credits

• Repair credits

• Included personal property (appliances, furniture, fixtures)

• Extended timelines

• Covered inspection items

• Rent-back allowances to the buyer (if applicable in some structures)

• Waived seller rights in the contract

Every one of them is money out of your pocket. In cash, in features, or in time.

Why sellers underestimate concessions

• They feel like negotiating gestures, not money

• They show up one at a time, not as a running total

• The buyer agent frames them as "reasonable requests"

• The sale price stays the same on paper

• The real impact only shows up on the final settlement statement

Death by a thousand concessions. Each one looks small. The pile is massive.

The common concessions and what they actually cost

1. Closing cost credits

• Typical ask: $5,000 to $15,000

• What it does: reduces your net proceeds dollar for dollar

• Why buyers ask: helps them afford their closing costs on top of down payment

• Honest cost: full face value

On a $750,000 sale, a $10,000 closing cost credit means you net $10,000 less. Period.

2. Repair credits

• Typical ask: $3,000 to $15,000 after inspection

• What it does: reduces your net proceeds

• Why buyers ask: inspection reveals issues they want addressed

• Honest cost: full face value, minus what repairs would have actually cost you

A $5,000 roof credit for a $1,500 repair means you overpaid $3,500. Negotiate against real contractor quotes, not buyer guesses.

3. Price reductions after inspection

• Typical ask: $5,000 to $25,000

• What it does: directly reduces sale price

• Why buyers ask: inspection surprises or renegotiation attempts

• Honest cost: full reduction plus proportional commission savings (minor)

A $15,000 price reduction after accepting the original offer is $15,000 in your pocket, gone.

4. Included appliances

• Typical ask: washer, dryer, refrigerator, sometimes more

• What it does: you leave assets that have real value

• Why buyers ask: convenience, cost savings on their move-in

• Honest cost: $800 to $4,000+ depending on items

If the buyer wants your two-year-old $2,400 washer-dryer set, that is $2,400 in equipment you cannot take with you.

5. Included personal property

• Typical ask: window treatments, outdoor furniture, playsets, shelving, TVs

• What it does: you leave items you planned to take

• Why buyers ask: they liked how the home showed

• Honest cost: replacement value of what you leave

Window treatments and custom shelving are the sneaky ones. Replacing custom window treatments in your NJ home could be $3,000 to $8,000.

6. Extended closing timelines

• Typical ask: 15 to 30 more days

• What it does: adds to your carrying costs

• Why buyers ask: financing delays, moving coordination, other reasons

• Honest cost: $3,000 to $7,500 for 30 days of SI carrying costs

You pay mortgage, taxes, insurance, and utilities for every extra day you own the home. That is a cash cost sellers rarely calculate.

7. Rent-back concessions (if structured that way)

• Typical ask: reduced rent-back rate from buyer's carrying cost

• What it does: you pay less to stay but may give the buyer other concessions in exchange

• Honest cost: depends on structure

Rent-back is often a win for sellers, but the specific numbers matter.

8. Waived seller rights or protections

• Typical ask: waive certain contract protections, extend contingency windows, soften default terms

• What it does: increases your risk if the deal has issues

• Honest cost: potential loss of deposit protection or ability to walk if buyer fails

The hidden cost. Not a line item, but a risk shift.

The honest math on a typical deal

Let me walk through a realistic SI transaction.

Agreed sale price: $750,000

Concessions requested:

• Closing cost credit: $10,000

• Post-inspection repair credit: $7,500

• Washer and dryer: $2,200

• Window treatments: $4,500

• 15-day closing extension: $2,250

Total concessions: $26,450

Effective sale price: $723,550

Your "$750,000 sale" is actually a $723,550 sale.

That is almost 4 percent of your gross price, gone. On the inspection and closing paperwork, it looks like you got $750,000. Your settlement statement tells a different story.

When concessions are worth it

Not every concession is bad. Some protect the deal.

• Closing cost credit that keeps a strong buyer in the deal

• Repair credit that avoids a lengthy inspection renegotiation

• Reasonable included appliances when the buyer is a first-time buyer stretching

• Rent-back when you need coordination time with NJ purchase

• Timeline flexibility that keeps a strong deal from falling apart

The question is not "should I concede." The question is "is this concession worth what it costs me."

When concessions are not worth it

• The buyer is testing to see what they can get

• The ask is wildly out of line with the actual cost

• Multiple small concessions stacked without you tracking the total

• The buyer's "reasonable request" is actually a lowball attempt

• You have backup offers or market strength

Not every ask deserves a yes. Buyer agents ask aggressively because sellers reflexively say yes.

How to actually negotiate concessions

1. Track them cumulatively

Every ask that comes through, add it to a running total. The number shocks sellers.

2. Counter with specifics

• "I will credit $3,000 for the roof based on this contractor's quote, not $7,500"

• "I will cover $5,000 in closing costs if you remove the appliance request"

• "I will include the washer and dryer if we close on the original date"

Trade concessions against each other. Do not just stack them.

3. Use market strength

If you have multiple offers or strong backup interest, you have leverage. Use it.

• "The next offer did not require this concession"

• "We have strong backup interest at full price"

• "Our timeline does not allow this delay"

4. Know your walkaway number

Decide in advance how much total concession you will accept.

• Below that line, negotiate

• At that line, hold

• Above that line, walk

5. Get contractor quotes for repairs

Never accept a buyer's repair credit request without a real quote. Buyers inflate costs. Contractors tell the truth.

6. Avoid vague inclusions

"Window treatments" is vague. "The custom shutters in the primary bedroom, the roller shades in the family room, the blinds in bedrooms 2 and 3" is specific.

Vagueness favors the buyer. Specificity favors you.

The specific concession traps

Trap 1: The inspection ambush

Buyer accepts your price. Inspection comes back with a long list. They demand $15,000 in credits.

Reality: most inspection findings are routine. $15,000 is often $3,000 of real cost plus $12,000 of leverage attempt.

Counter with real quotes, not emotional response.

Trap 2: The "small" additions

• "Can you throw in the shed?"

• "Can you leave the patio furniture?"

• "Can you include the mounted TVs?"

Each sounds small. The total adds up to $5,000 or more quickly.

Decide what stays. Price everything else.

Trap 3: The closing cost spiral

Buyer asks for closing cost credit. You agree. Then they ask for a price reduction too. Then a repair credit.

Each concession makes the next one feel smaller. The total destroys your net.

Trap 4: The timeline creep

Buyer needs 10 more days. Then 10 more. Then 10 more.

Each extension costs you carrying costs. If timeline is slipping, renegotiate for compensation.

Trap 5: The appliance precedent

Buyer asks for the fridge. You agree. Then they ask for the washer and dryer. Then the lawn equipment.

Decide what stays once. Not one appliance at a time.

What I do when concession requests come in

• Track every ask cumulatively so the seller sees the total

• Get contractor quotes before accepting repair credits

• Counter strategically rather than reflexively agreeing

• Trade concessions against each other

• Preserve market leverage when it exists

• Hold the line when the ask is unreasonable

• Advocate hard for the net not just the headline price

My job is to protect your net proceeds. The sale price is the headline. The net is the money.

The one concession that is usually worth it

Rent-back arrangements.

• You sell to the buyer at full price

• You stay in the home for 30 to 60 days paying rent

• You have proceeds in the bank

• You avoid the double-move nightmare

• You coordinate the NJ purchase properly

Usually a win-win when structured well. Ask for it at the offer stage, not after.

What sellers get wrong at the concession stage

• Agreeing one by one without tracking the total

• Not getting real cost estimates for repair credits

• Including items without pricing them

• Extending timelines without compensation

• Treating buyer asks as reasonable by default

• Being afraid to counter or hold

• Forgetting the net number matters more than the sale price

What I will not pretend to advise on

I am not an attorney. For specific contract language on concessions, credits, inclusions, and deposit protections, talk to your real estate attorney. I can refer trusted ones on both sides of the bridge.

All of our work follows the Fair Housing Act, RESPA, the NAR Code of Ethics, and the real estate commission guidelines for New York and New Jersey.

Before you say yes to any concession

Ask three questions.

• What does this actually cost me in cash or in net proceeds

• What am I getting in exchange — deal certainty, timeline, something else

• What is my running total of concessions on this deal

Then decide. Not reflexively. Strategically.

The sellers who protect their net proceeds are the ones who know what every concession costs — and say no to the ones that are not worth it.

Have questions about selling your home or relocating? Reach out to Allison today.

Call: 646.266.0188
Email: [email protected]
Website: www.statenislandtonewjersey.com

Contact Allison today to sell your home in SI.