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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?
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.
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