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Latest post Wed, Jul 29 2009 3:35 PM by Steven Fishman. 1 replies. Viewed 213 times.
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  • Wed, Jul 29 2009 2:28 PM                

    I live in North Carolina and the property in question is also located in North Carolina.

    I know that Buyer Agent commission rebates are legal in North Carolina. My question is: Can the seller of a property offer a rebate to a buyer? The rebate would be shown as such on the HUD closing statement.

    Example:

    Say I have been trying to sell a property for $100,000 but have not had much traffic. Rather than reducing the price to $90,000; Can I keep the price at $100,000 and offer the buyer a $10,000 rebate to be paid at closing?

     

  • Wed, Jul 29 2009 3:35 PM                 In reply to

    Not likely to be approved by an underwriter for the buyer to get cash at close. You can give the buyer up to 6% paid towrds their closing cost or more depending on the program and amount used for the down payemnt.

    PREMIUM MEMBER
    Steven Fishman
    Wells Fargo Home Mortgage
    330-670-5908
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