The concessions field assists appraisers when they’re doing a work-up on a listing…they need to know if there was cash back, and why.  So, what’s the way to report the sale?

• Sale price = Deed transfer price as recorded by the Registry
• Concessions = Anything that impacts the Sale Price as Recorded in the Registry

Example:  Purchase and Sale agreement was fully negotiated with an offer price of $200,000.  After inspection, there was cash back to the seller to repair a foundation in the amount of $10,000.  The full $200,000 should be entered into the Sold Price and $10,000 plus the remark recorded in the Concession field, as follows:

Consistency is key to good, solid, reliable data in the MLS.  Please, if you have any questions about this procedure, give staff a shout.