How much is the seller's contribution limited to regarding the contracted sales price?

The seller's contribution towards closing costs in a real estate transaction, particularly when it involves financing through programs like those offered by NACA, is typically limited to a certain percentage of the contracted sales price.

In this case, the limit is set at 10%. This means that the seller can contribute up to 10% of the contracted sales price towards the buyer's closing costs, which can significantly ease the financial burden on the buyer.

Understanding this limit is crucial for both buyers and sellers in a transaction. It helps in structuring offers and negotiations, ensuring that both parties are aware of the financial boundaries established by the financing guidelines.

The specific percentage varies based on the financing type and program, which is why it is important for those involved in real estate transactions to be familiar with these figures and regulations to enable informed decision-making.