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The importance and value of home rebate in buying resale homes

House is a necessity that most people need for shelter and accommodation for themselves and their families. Houses are probably the most expensive purchases that a person has to make, and many of the people re not affluent and have to rely on different mortgage options at their disposal. Even buying land and constructing a house is quite costly and can only be afforded by people with strong financial resources.

The decision to buy a newly constructed house or a resale house mostly depends on the financial situation, the lifestyle preferences, the number of family members, and other features such as energy efficiency and proximity to amenities. The newly built houses are quite expensive as compared to resale houses, and many homebuyers do not have the budget to make the purchase decision. The real estate agent employed by the homebuyers will advise them to try their luck in viewing resale houses, which can help to save thousands of dollars which they can spend on other important things. The different reasons why you may prefer to get a resale house are

  • You want to move into a quiet neighborhood where newly constructed homes are not available.
  • You want to style and repair the house according to your wishes
  • It suits your financial situation and priorities
  • The resale houses have low property tax as compared to new houses.
  • The houses have traditional layouts and more space in the interior rooms
  • You have more chance to negotiate and get the best price while buying a resale house than a new house

The real estate agent will help you find the best resale house in your preferred area. The realtor deals with buying and selling of houses daily so know how to satisfy your needs regarding resale houses. The realtors in MacDonald Highlands are offering their services and option of the home rebate, which is quite valuable if you are looking to buy a preowned home. The homebuyer rebate is also called commission rebate and means that the real estate agent will give a portion of the commission they get from the seller to you. The commission fees are mostly 2% or 3% of the final sale price of the particular house after closing.

You should first employ the best real estate agent who can help you to get a home rebate. You can hire a realtor through referral network who can negotiate home rebates on your behalf.  The best thing is that you can use the rebate to make down payments, to pay closing costs, lowering the interest rate and buy points on the mortgage they have taken. You should also know that the mortgage lenders you have employed would first approve on how you would use the home rebate.

The commission or home rebate allows you to buy an extravagant home or to save money for the down payment that you have to pay. From a seller’s perspective, the deal would be finalized with the buyer who offers to pay more. As a buyer, if you receive the home rebate, you could easily pay more money and buy the house. The home rebate is the difference when a particular house gets multiple offers.

In the conventional method of the house sale, the seller of the house would employ services of a listing agent and then offer him almost 6% to sell the house. The listing agent would then offer half of the commission to the real estate agent you have hired. The real estate agent would then give some portion of the commission as a rebate to you. The amount of the rebate varies and depends on the agent you have selected and several houses you have viewed. The standard rebate value is almost 1% of the sales price of the house. The home rebates are discussed between you and your agent. Your ability to negotiate would matter in the final amount you would get. The best thing you should do is interview several real estate agents and then compare the amount that each one quotes. You should hire the agent who is willing to offer a large sum in the form of a home rebate.

You can also get the home rebate without negotiation, but it is quite challenging and stressful, but there are individual realtors who are offering a sizeable rebate as compared to large real estate companies who split the commission within themselves and their agent. The large real estate companies have a high cost of maintaining their business while the individual realtors offer more rebate amount because they have fewer overheads, no transaction, and no payment to extra brokers.

Author Bio:

Mr. Frank Smith works for an online magazine that provides valuable information in buying and selling of houses. He recently talked about the home rebate and how it could help a person to buy a resale house in MacDonald Highlands. Aspiring home buyers can ask for his opinions through Facebook and Twitter.

The importance and value of home rebate in buying resale homes Reviewed by on . House is a necessity that most people need for shelter and accommodation for themselves and their families. Houses are probably the most expensive purchases tha House is a necessity that most people need for shelter and accommodation for themselves and their families. Houses are probably the most expensive purchases tha Rating: 0
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