If you are not aware what new home rebates or real estate rebates are or how to get one, then this information is certainly going to be a real eye-opener for you. Right now there are people all over the country being handed thousands of dollars at closing simply because they inquired with their real estate agent about the rebates. To see if you qualify, all you need to do is be buying a home, it really could not get any easier than that.
What Are Real Estate Rebates?
To better understand what are real estate rebates, you need to know all about the home selling process. The homeowner calls a realtor to list their home for sale. The home owner and the real estate agent agree that upon the sale of the home, the agent will receive a commission based on the sale price. The commission is the real estate agents pay for all their time invested in selling the house. The real estate agent who brings in the buyer also get a commission, or percentage of the sale of the house. These agents leverage their pay to acquire more potential customers by taking a cut of their money and giving it to the buyer as incentive to do the deal with them.
How Do You Get the Real Estate Rebate?
In order to get the real estate rebate, you simply need to inquire with a real estate agent of they take part in the rebate process. If they are willing to provide you the rebate, then upon closing of the house, you will receive your money to do with as you please. The decision to offer the rebate falls squarely on the lap of the agent, but with so many benefits for all parties involved, most are willing to hand over the cash in exchange for more business. In the game of real estate, referrals are gold, and buyers who get these cash rebates often tell their family and friends about the agent and get them more exposure and more business.
While some states are trying to ban the real estate rebate, it has become more popular as each year passes. The people who need that cash most are benefiting from the rebates, and the courts are trying everything now to make it illegal to ban such a practice. Speak with a real estate agent before you fill out a contract to make sure you are getting your share of the cash when the house closes.