Is Cash Buyer Bonus Legal
Yes, it absolutely is. The biggest criteria is that the buyer is
assisting us in the search for their home. Something which most home
buyers are doing anyway. After all, how many times have you searched on
Realtor.com or some other real estate website looking at homes? Have you
driven around neighborhoods trying to see where would best fit your
lifestyle? Been going to Open Houses in areas that interest you? We are
betting that you've probably said Yes to all of the above. Hence, you
are assisting us with finding your new home. In return for this
assistance we can offer you a Cash Buyer Bonus as long as it is
disclosed to all parties...including your mortgage company. That is
exactly why our Cash Buyer Bonus program is designed around the number
of homes we show you. The less home we have to show you before buying
the home of your dreams, then it is assumed you have done much of the
legwork yourself. Once we get involved you have probably already
narrowed your search down considerably and we simply need to find the
'right' home and then assist you with the negotiation and making sure it
really is the right home for you.
You may have heard that "rebates" are illegal - and it is simply not
true in Georgia as long as you are assisting with your home search.
See here what the Department of Justice has said about Commission
Rebates.
When talking to your mortgage company we suggest you go ahead and tell
them about the potential of your receiving a Cash Buyer Bonus and if
there are any further requirements they may have in terms of paperwork
or disclosures.