Fannie Mae released a statement today about real estate commissions and interested party contributions (IPC). This guidance is helpful for appraisers when deciding whether to treat a seller-paid real estate commission as a seller concession.
This statement from Fannie Mae’s definition of value provides additional insights: “No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions.”
The full statement is attached.
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