Interesting article about buying and selling real estate: “Another Look at ‘Sellers’ Concessions’ in Real Estate”
Check out this post from Freakonomics Blog:
In order to buy a home, one typically needs to save 10 to 20% of the purchase price for a down payment. The remainder of the purchase price is typically financed by a mortgage. The need to save for a down payment is one of the biggest barriers for someone wanting to be a home owner. It involves living below one’s means; saving for several years; and discipline. To the bank, however, this all means that the new home owner has a vested interest in making their mortgage payments since their life savings is invested in the home from Day 1.
(from : Another Look at “Sellers’ Concessions” in Real Estate)
Read the article, it poses an interesting connundrum.