It doesn’t matter if you are shopping for a house in an up or down market, saving every chance you can will add up in the end. One of the best ways to save thousands off the price of a house is to talk with your realtor about real estate rebates. If you are not familiar with how real estate rebates save you thousands, the following information will help to enlighten you.
Finding the Right Real Estate Agent
Not every real estate agent offers rebates, basically because you are cutting into the money they make and deserve for the sale of the house. That commission the realtor receives is a result of hard work, and no one wants to part with their earnings. The rebates however actually get the realtor more business because you have the opportunity to work with any agent, and by choosing one who offers rebates, you made their job easier by building their client base faster.
What is the Real Estate Rebate
The real estate rebate is simply a small portion of the realtor commission that is paid to the home buyer at closing. The money comes right from the cut of the sale price commission that the real estate agent receives, so that price is often negotiated before the contract is ever signed. In most cases, a house that sells for $300,000 could put a few thousand dollars in the hands of the buyers at closing, something they could definitely need after signing all those documents.
Using Your Real Estate Rebate
Many home buyers think they have to wait for the rebate or that they have to use it on certain things. Because this deal is being made between buyer and realtor, it is something the buyer receives at the close of the sale. Many home buyers leave the closing penniless because they sink everything they own into that house up front. The real estate rebate could not come at a better time, helping these fold to bridge the gap and pay for moving costs, new furniture, food, or to cover utility deposits until the family is back on their feet.
Now that you know how real estate rebates save you thousands, be sure that you speak with a realtor about it before assuming you are simply entitled to them. Making certain you are working with an agent who deals with rebates can make the buying process less stress for the buyers as the close of the house approaches.