The significance of home rebate when buying newly constructed houses

It is the dream of most people to one buy and owns a new house, but houses are quite costly and not within easy reach of most homebuyers. The wealthy people can easily afford to pay the big purchase price, but the less fortunate homebuyers have to rely on mortgage loans.

The decision to buy a new or resale house depends on lifestyle preferences and financial situation of a person which includes his monthly income, credit score, and debt to income. The newly constructed houses are more costly in terms of price as compared to resale houses. The resale homes are best if a person is looking to remodel an old home according to his concept and idea. The new houses have their advantages such as

  • Everything of the new home is unique and untouched
  • Both the interior and exterior space is quite neat, clean and attractive
  • The new houses are built with modern techniques and better building materials.
  • There is modern technology used which makes the house more energy-efficient and safe
  • All the rooms are stylishly designed keeping in respecting the current trends
  • The new homes are better insulated in the winters and have an efficient cooling system in the summers
  • The new houses require minimum maintenance and repairs as compared to resale houses

Whether you want to buy a new house or a resale one, the first thing to do is employ services of a real estate agent who is experienced and familiar with the buying process of new houses. The real estate agent, also known as realtor knows about the struggle and troubles that homebuyers have to face particularly first time homebuyers. The advantages of hiring a realtor are

  • Can take the trouble and stress away that is common when you have to search a house that satisfies your need and wants
  • Will narrow down the search and save time especially if you are busy with your office and personal life
  • Have knowledge of the neighborhood where you are interested in buying a house. They can take out comparable sales and give the list of house prices to you
  • They can negotiate with the seller and can get you the ideal price which you are looking for
  • They will manage all the paperwork which is essential during the sale of the house
  • They know about the current trends regarding the price of the house and will help you to make the right decision.

The numerous reasons make it necessary to hire a realtor, but you must interview several realtors and properly know about their work and experience before hiring their services. One of the important factors that people rely on realtors is ‘home rebate or commission rebate’ which means the realtor willingly gives a set portion of the commission to you (homebuyer) after the closing. The normal rate that the realtor give to their client is 2% or 3%. The home rebate is legal and allowed in 40 states of the country. The home rebate serves as a crucial financial benefit that can help you to use the amount of money either in paying down payment, paying closing costs, lessening the interest rate or buy points on the mortgage.

The home rebate can help you to buy an expensive home in the wonderful and developed area of MacDonald Highlands. You only need to find the right realtor who can work around and negotiate with the seller and can get a rebate on your behalf. However, the mortgage lender that is helping you with financing the purchase of the house would first approve the rebate and how you would use it.

The home rebate is a vital thing and can be a point of difference if you have selected to purchase a new house that has got multiple offers. You could take financial support from the rebate and offer more to the seller to buy the house. But you have to select the best realtor who knows how to negotiate on your behalf and not only gets the home rebate but discusses the most suited price with the seller.

The traditional house sale is made when the seller hires a listing agent and agrees to pay him 6% if he manages to sell the house. The listing agent then offers half of the 6% to the buying agent (the realtor hired by you). The realtor will discuss with you on the sale of the house and the rebate amount that he is willing to give you. You should interview different realtors from referrals and avoid going to large real estate companies as they seldom offer a reasonable rebate amount. The individual realtors have no extra charges or fees and offer a better home rebate rate, which is mostly 2.5% or close to 3%.

Author Bio:

Miss. Nicole Adams writes online on different trending topics. She recently discussed the options homebuyers have when buying a new home. She wrote on the trend of home rebate and how it can help people to buy even a lavish home in MacDonald Highlands. Aspiring homebuyers can visit her Facebook and Twitter to get more information.