Seller concessions apply to anything you as the Seller are asked to make by a potential Buyer. Typically, the the most common one is to share in paying all or a portion of the Buyer’s closing costs. Closing costs are not the average $300 a title company charges to close the sale but the costs associated with obtaining a loan. It is tagged closing costs because it is the amount of money required by the lender to bring to the closing. A Seller can assist in paying the lending fees but not any portion of the down payment.
Often times a contract will specify an amount up to $5,000, as an example, which means there is a chance that the lender may not need the entire $5,000 and you may be contributing less but typically that is not the case.