DISCONTINUED - We are no longer offering the Home Buyer Rebate.
Home Buyer CASH Rebate (FAQ) Register Now!
How do you really know if you save money when not using a Realtor? Remember the sale rep you are working with REPRESENTS THE BUILDERS INTEREST. Have someone on your side, ask any builder, the commission to us is already built in and we want to give some of it back to you!
- How does the Realtor® commission protect you?
- How does the rebate work?
- Can I just get the builder discount their new houe by 3% if I am not working with a Realtor®?
- Will every New builder work with a Realtor®?
- Why can't I get the 1% new home rebate on an existing home purchase?
- How is the rebate paid?
- Who gets a cash rebate?
- Are there any restrictions on my use of the rebate money?
- How about if I buy in other New Mexico locations. Will the Rebate apply?
- REGISTER NOW!
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Search Homes That Qualify For The Home Buyer Cash Rebate. Click here.
How does the Realtor® commission protect you?
Think of us as another layer of protection when making such a large financial decision. It is possible that a buyer could pay $10K, $20K or more than what the builder would have negotiated for. Builder sale's people work for the builder, although they will surely work with you, ultimately they have the builders best financial interests not yours. Realtors on the other hand want to get the best deal for their clients. Smart Realtors know the market and provide advice that can save you a bundle.
An experienced Realtor can help you negotiate, avoid critical mistakes before it is too late and SAVE you MONEY. Here are two important benefits of a Realtor commission:
- Pays for and provides YOU with Buyer Representation from an experienced professional that represents you and your financial interests and that means doing some ground work to determine the proper offer.
- Gives the Builder a financially effective means to MARKET their New Homes to the Public. Paying a Realtor® is a lot cheaper that other forms of advertising which do not guarantee sales.
When you consider the mistakes that can be made without representation, it just makes sense to use NMWelcomeHome Team's (NMWH Team) services.
How does your Rebate work?
First you must be a Client of NMWH Team to receive a Buyer Rebate and if you are buying a NEW home you must inform the builder's sales rep that you are being represented by NMWH Team and once you are contracted; NMWH Team must be listed as your buyer agent.
Reading about our services and Rebate offers online does not entitle you to a new home cash rebate from your new home builder if you are not an NMWH Client. Builders are NOT permitted to give cash to new home buyers. This is considered a 'kick-back' and against the law. If you decide to use our services we will email you a buyer agreement guaranteeing your rebate and our services. The best way to get started is by Registering with us.
To give such a generous rebate we ask that you do some of the initial leg work on your own. This includes driving through potential neigborhoods and visiting model homes to see if this will be a place where you want to live. This will save us time and we can pass the savings on to you.
Standard Rebate Amounts:
One Percent for any new construction homes built or to be built. Now until December 31st 2012 Cash Rebate will be 1% of the purchaes price minus any shared New Mexico Gross Receipts Tax (Some builders only pay a portion of the NMGRT. On a $200,000 home that means $2,000 back to you!
All rebates MUST reflect on the HUD-1 Closing Statement. We will Guarantee your rebate in writing.
Can I just get the Builder to discount their New House by 3% if I am not working with a Realtor®?
Possibly...but how do you know you're actually getting 3% off? Sure in some cases that may seem to work but how do you know what the real 'Market Value' should be on the house you want to buy? Focusing on the 3% Realtor® Commission could wind up costing you thousands of dollars more, and without representation financial mistakes are often made. These are mistakes you won't know about until you try and sell.
A market savvy Realtor®on the other hand could negotiate a 5% to 15% price reduction on the same house based upon factors you may not be aware of, or suggest other home choice possibilities that represent savings that are more in line with your expectations. Overpaying for your house in the New Mexico Real Estate Market or overlooking floorplan configuration and energy considerations could be a sure way of LOSING MONEY when it comes time to SELL. From experience and many conversations with the sales staff at new home builders office's, they encourage using a Realtor.
Will every New Builder work with a Realtor®?
In my opinion probably all New Home Builders will work with Realtors®or licensed Real Estate Agents and pay the standard marketing or sales commission of 3%. In rare circumstances some small builders may not work with Realtors® and some builders require that the Real Estate Agent escort their client on their 1st visit.
Why can't I get the 1% New Home Rebate on an Existing Home Purchase?
If we are selling your current home we will rebate you up to 1% when you purchase your next home. For buyer's that do NOT have a home to sell, there is no rebate on resale homes. Generally speaking our responsibilities, work, liability and time requirements increase when we represent you in a purchase of an existing home and that is why we do not have a rebate on resale homes. We are required to write the contract offer, enter negotiations, make counter offers, write addendums, amendments, and protect your financial position and interests in a time responsible manner. That means faxing/emailing these documents to all affected parties for signatures, insure timely performances of inspections, re-inspections and be available to allow inspectors into your new home as well as appraisers so as to give you all the time needed to evaluate findings BEFORE your earnest money is at jeopardy. As your agent I am often a 'go to" for your Lender, Insurance Agent and Title Company when they need urgent information to keep your Closing date on schedule. Essentially we keep you on target for your expected closing date while protecting your financial interests during the transaction process.
How is the Rebate paid?
NMWH Team rebates are always calculated from the gross commission BEFORE broker expenses are deducted so you know you are getting the maximum cash rebate possible.
The Rebate can be paid as a Closing Cost Credit to reduce money, other than downpayment money you need to bring to Closing to settle your home purchase. Your lender may have to approve how the money is applied to your closing costs. We can pay your first mortgage payment or apply the rebate to the out of pocket closing cost expense.
Commission MUST be 3% in order to allow us to give a buyer cash rebate. Cash rebate after closing will be paid within 14 days of closing. All rebates MUST reflect on the HUD-1 Closing Statement.
Who Gets a Cash Rebate?
Any buyer that purchases a new construction home built or to be built.
Are there any restrictions on my use of the Rebate money?
You may use the cash for any legal purpose or allowed by your lender. To buy Window Blinds, New Appliances, a Vaction or for any number of items a typical home buyer may need. All rebates MUST reflect on the HUD-1 Closing Statement.
If you are part of a relocation service you will not be eligible for rebate.
How about if I buy in other New Mexico locations. Will the Rebate apply?
YES! Just as long as you follow our simple guidelines we will be happy to represent you. NMWH Team is licensed throughout the State of New Mexico.