How to have the Best Buyers’ Rebate in Real Estate Purchases in Maryland and Washington DC
If you are purchasing a home in Washington DC or Maryland, you should try to select a realtor who offers the best buyers’ rebate in real estate. Having such a rebate can help you to save thousands of dollars and use that for other home renovation purposes.
The type of rebate to opt for
There are two types of homebuyer rebates possible to get. One is the closing cost credits and the other is cash-back refunds. It is wise to be with a home buyer rebate program that offers cash-back refunds. Though this nature of rebate will not offer large savings; however, it is for sure you will have the entire rebate advertised after the closing of the deal. Moreover, as you get the rebate after the closing of the deal, it does not affect your loan situation and there will not be any requirement for lender approval. You will have the rebate in cash and that helps you to use the money for whatever purpose your desire.
How to select the best realtor rebate program
If you decide to have the best rebate you need to be with the best rebate program. So, let us see how to select that.
Select the best agent, not the largest rebate
If it is that you are buying a house for the first time, your priority needs to be to find the best agent and not to find the largest realtor rebate. At times, smaller but reputed companies offer better refunds than large companies like Redfin. It is wise to be with such companies as they offer you the rebate without forgoing the backing of a traditional realtor.
If you have a professional real estate agent with you, they will help you to purchase the correct house and crack the best deal. If you choose a non-professional agent and fail to purchase an ideal house, that will be costlier than the rebate that you gain.
Select a rebate program that suits your budget
It is wise to select a realtor rebate program that fits the budget you have. Most companies have to earn a minimum commission fee before they give you back anything. So, in such a situation if you buy a low-priced house, you will not be able to get a full rebate as the agent’s commission will be below the minimum amount. However, some companies do not depend on the commission they receive to offer you the rebate. After you select your preferred house, they would provide full-service representation and the largest rebate that you can expect in Maryland or Washington DC.
Suppose you are with such a company and the agent earns 3% agent commission, and you buy a house worth $200K you can get a cashback of $2000. Even if an agent earns a 2.5% commission the rebate can lower your cost by 1%.
Magnolia Realty is one such company that makes the purchase or sale of a house a wonderful experience. You can expect to have full-service buyer’s agent representation and up to a 1.5% realtor rebate from them. Call them at 240-793-2861 to book an appointment.