If you are planning on buying a new home, then you should familiarize yourself with the new home rebates that are often available. These rebates can help you to save money in the end and this can be a big help when you are purchasing a home. This guide to new home rebates is a good place to start.
New home rebates in a nutshell
A new home rebate is a rebate that a client can receive from their real estate agent. How it works is the agent will give the client a portion of their commission that they get upon closing on the purchase of a home. Some real estate companies will offer a new home rebate that is for a set sum, while others offer one that is based on a set percentage of the purchase price of the home.
Why home rebates are offered
Real estate agents will offer home rebates for any number of reasons. One reason is to help bring in new customers without spending as much on advertising. When buying a home, seeing that there is a way to save money can be tempting and result in someone choosing that agent in order to take advantage of the rebate. Another reason some real estate agents will offer a home rebate is to create a better working relationship with the client and to gain their respect. Since the rebate comes from the agent's commission, offering it shows the client how far the agent is willing to go to earn their business and their respect. Also, offering a home rebate can be a great way to ensure that the agent will get more word-of-mouth advertising because people love to talk to others about the great deal they got.
Different rebates that can be offered
Real estate agents can offer a rebate on a certain type of property as a way of promoting them and helping to get those properties sold faster, which helps the agent. Some examples of the different types of home rebates that can often be found include rebates for condominiums, townhomes, multi-family properties, single-family homes, private community homes, and new homes.
If you are looking for a new home, you want to keep your eyes open for new home rebates. You will receive your rebate after the sale of the home has gone through, and you may receive it in the form of a credit.