Important Details On HomeBuyer Rebates,
Short Sale and Bank Owned Purchases
- Due to Federal Lending Guidelines, The Cascade Team Real Estate requires that your buyer rebate be shown as a agent credit on the HUD-1, thereby reducing the amount of your closing costs. Closing costs can vary depending on the lender, size of loan, home price and the date your home purchase is closing.
- If your lender caps the amount of closing cost credit you can receive, any un-used portion of the rebate, after all seller concessions have been allowed for, is FORFEITED. It is illegal for The Cascade Team, and/or any agent, to rebate or "kick back" any compensation outside of closing that is not disclosed to the lender.
- A buyer cannot use a home buyer rebate as part of the loan down payment.
- The minimum buyer's agent commission is $5500. If the total commission, less the buyer rebate is less than $5500, then the buyer receives the total commission less the $5500 flat fee.
- Mobile home and land transactions are subject to a different commission structure. Please call the agent or our office for details on how these home sales work.
- A home buyer rebate is not paid on short sales, foreclosures or bank owned properties.
Click Here to see what customers are saying about us, or give us a call at (800) 509-6905 for more information.