You Have Questions – We Have Answers
“Nobody gives anything away for free”. “If it’s too good to be true..then it is” “You get what you pay for”. We Have heard them all.
Below we have compiled a list of commonly asked questions that will explain in detail what the New Home Rebate is, how it works, and why we are able to offer the program.
What is the New Home Rebate?
The New Home Rebate is a form of commission sharing. As Real Estate Agents representing you in your new home purchase, we are paid a commission when you buy a new home. To thank you for using our service, we share a portion of our commission with you.
Will I receive actual cash?
The rebate will be made in the form of either a closing cost credit, applied towards option upgrades with the builder, or applied as a reduction to your sales price. However applied, the New Home Rebate will given towards your new home purchase. The rebate must appear on the HUD 1 Settlement Statement, your sales contract and your Exclusive Buyer’s Agency Agreement. If the builder will not honor a reduction in sales price, a closing cost credit, or apply towards options, then the participating real estate agent’s brokerage will provide the rebate after closing.
Are rebates legal?
Who pays for my new home rebate?
The New Home Rebate is paid by the Builder. We let the Builder know that we are sharing our commission with you and the percentage we are sharing, and the Builder pays our commission to us and your rebate to you. If the builder will not honor a reduction in sales price, a closing cost credit, or apply towards options, then the participating real estate agent’s brokerage will provide the rebate after closing.