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Member You - Real Estate Rebates - How To Get One The Next Time You Purchase A Home
One of the great myths of investment is that you need an MBA, a Porsche and access to lots of cash before you can take part.Fortunately nothing can be further from the truth and with the right long-term approach; almost anyone can become a millionaire investor.Long-term investment strategyIn short, this article will explain a low-risk investment strategy that could allow you to retire younger, travel mo
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and t
I was just talking with a real estate professional in Northern California about how precarious the market for residential homes is becoming. My friend is an elderly real estate broker that started selling real estate in the 1970s and now has over three decades in the industry. She has seen the prices of houses appreciate radically as well as drop precipitously over prior decades.We were chatting about the hard money lende
Now, you may be asking "why would an agent give me 1/2 their commission"? It's easy to understand if you just follow the next few steps.
Step 1 - Understand that 90% of all the real estate activity is accomplished by only 10% of the agent work force. That leaves 90% of the agents out there "going hungry". Your job is to find a hungry agent.
Step 2 - You've decided to buy a home and would like an unadvertised rebate. Let your fingers do the walking. Just call any broker and say that you would like to do business with an agent at their company who will rebate 1/2 their commission. State that you want an agent who has at least 3 years experience and is preferrably a "desk fee" type agent. Ok, new term "desk fee". That is an agent who gets to keep all the commission with no split to the broker. At my office, I pay $350 a month and get to keep all commissions generated with no split to the broker. Because I keep all the commission, I don't have to get broker agreement regarding sales office commissions. Call 5 or more offices and have each broker do the research for you. They should be able to find you a few candidates.
Step 3 - You need to prove to the agent that you are a willing and able buyer. Go to a lender and ask to get "fully qualified" to buy a home in your price range. This will take you one step beyond the normal pre-qualification step. Now, get the "full qualification" letter, so you can present it to the agent you choose. With this letter in hand and your ability to buy, you will appear like "GOLD" to the agent.
Step 4 - Ask the agent to send you listings that meet your needs, you agree to pre-drive before viewing (state that this is your trade off to get 1/2 the commission). After seeing a home of interest, call the agent to view.
Step 5 - When you find a home that meets your needs, you will have have to make known on the Purchase and Sales Agreement, how the rebate is to be received. I have done rebates with the following terminology when closing costs were involved:
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and th
Budgets are for people with predictable income, fairly predictable expenses, and the former larger than the latter, right? What good will a budget do if you don’t have enough money to go around, and you never know when more is coming in?Suppose you have a hole, or lots of holes, in your wallet. Maybe your wallet is falling apart, but you can’t afford a new one. Would you ignore the holes, and the money falling out until you
Step 3 - You need to prove to the agent that you are a willing and able buyer. Go to a lender and ask to get "fully qualified" to buy a home in your price range. This will take you one step beyond the normal pre-qualification step. Now, get the "full qualification" letter, so you can present it to the agent you choose. With this letter in hand and your ability to buy, you will appear like "GOLD" to the agent.
Step 4 - Ask the agent to send you listings that meet your needs, you agree to pre-drive before viewing (state that this is your trade off to get 1/2 the commission). After seeing a home of interest, call the agent to view.
Step 5 - When you find a home that meets your needs, you will have have to make known on the Purchase and Sales Agreement, how the rebate is to be received. I have done rebates with the following terminology when closing costs were involved:
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and t
Debt problem is commonly seen among people. And the best way to tackle debt problem is availing debt consolidation services. Debt consolidation services eradicate the debt problem and help him in leading a debt free life.Majority of the financial companies and other private lenders provide debt consolidation services. It is regarded as the cheap and easy way to get rid off the debts. The financial company providing debt con
Step 3 - You need to prove to the agent that you are a willing and able buyer. Go to a lender and ask to get "fully qualified" to buy a home in your price range. This will take you one step beyond the normal pre-qualification step. Now, get the "full qualification" letter, so you can present it to the agent you choose. With this letter in hand and your ability to buy, you will appear like "GOLD" to the agent.
Step 4 - Ask the agent to send you listings that meet your needs, you agree to pre-drive before viewing (state that this is your trade off to get 1/2 the commission). After seeing a home of interest, call the agent to view.
Step 5 - When you find a home that meets your needs, you will have have to make known on the Purchase and Sales Agreement, how the rebate is to be received. I have done rebates with the following terminology when closing costs were involved:
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and t
Mystery shopping is no longer a secretive, treacherous prank, played by ungrateful employers. It is now a legitimate survey technique that stretches beyond a simple measurement of compliance and service quality. Mystery shopping is a legitimate mechanism for enhancing loyalty and integrity, and is a useful self-evaluation method for employees to improve their work with customers. Mystery shopping is now very transparent, rather th
Step 4 - Ask the agent to send you listings that meet your needs, you agree to pre-drive before viewing (state that this is your trade off to get 1/2 the commission). After seeing a home of interest, call the agent to view.
Step 5 - When you find a home that meets your needs, you will have have to make known on the Purchase and Sales Agreement, how the rebate is to be received. I have done rebates with the following terminology when closing costs were involved:
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and t
If you’re a small business owner, you know just how tough it can be to get yourself and your products or services out there. Even if you’re picking up a franchise or moving into an area you know could be lucrative, often making a return on your investment is difficult—if not impossible. But it doesn’t have to be: no matter what size your business is, you just have to know how to sell it.• Friends: Your first stop for pick
Example: Selling agent agrees to take $5,000 less due from seller at closing than is mentioned on the listing agreement. Seller agrees to pay $5,000 towards buyers closing costs and pre-paids (make sure that your agent writes it up in accordance with his state laws).
As you can see this is a win-win for all those involved. You, the buyer, get a nice rebate in the form of closing costs. The seller nets the same money by paying you $5,000 and $5,000 less to commission. Your agent gets a nice commission and the listing agent gets the property sold netting his commission.
Hint: Always make sure that your lender allows rebates, gifts, etc. before doing business with them. Some are so restrictive that they don't allow rebates even though they may be allowed in your state.
Step 6 - Keep in mind that rebates aren't allowed in all states. Currently, the states of AK, ID, IA, KS, KY, LA, MS, NJ, OK, OR, Tn and WV don't allow rebates or are restrictive in agent incentives. If you reside in one of these states, ask an agent or call the real estate law division.
With Steps 1 to 6, you should now have sufficient knowledge to get a nice rebate on the next home you purchase.
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