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How to Save Money on a New Home

Aug 18, 2007
In general, the purchase of a new home involves taking money out of your pocket, but in Texas, there's a new trend that enables new home buyers to put money into their pocket as well. Through the developing new trend in sharing home sale commissions with new home purchasers, Texas homebuyers are reaping the benefits of a real estate secret that has been closely guarded for years.

That secret is that homebuilders generally add a 3 percent commission to the selling price of a newly built home or piece of property. In the past, the real estate agent involved in the new home purchase or land purchase adds that commission to their profit when they sell that home or piece of land to Texas buyers.

Now new homebuyers can benefit and receive a portion of that 3 percent commission as well. While most real estate agents are hesitant to share their commission profits, in-the-know homebuyers can receive up to 2 percent of a commission that is generally reserved for real estate agents. If a real estate agent is not involved in the purchase, the homebuilder generally pockets that 3 percent commission for himself and adds it to his or her profits.

The cash rebate, or commission, whatever you prefer to call it, is perfectly legal and can save new homebuyers thousands of dollars on the purchase of a new home or property in Texas. Walking away from a purchase of a new home with extra money in your pocket is a lucrative deal to everyone involved, and is the start of a new trend in the real estate market.

Most homebuyers aren't aware that the 3 percent commission even exists, and why should a real estate agent spill the beans? However, sharing is something that many new companies are learning to do, especially to infuse new interest in the sale of homes and property, which in the last quarter, has endured quite a slump in most areas of the country

While the concept of offering commissions to new homebuyers is becoming popular in Texas, it certainly won't be long before other companies around the country are following suit. It's a good idea, as both homebuilders and homebuyers profit from the deal. However, a 'middleman' is necessary for this to occur, as a homebuilder cannot directly offer a homebuyer this commission.

The money needs to transfer through a licensed real estate agent who will handle the transaction for you and keep 1 percent of the homebuilders' commission for their trouble. Everyone's happy, especially the new homeowners, who just walked away from a purchase with extra and unexpected cash in their pocket that can be applied to closing costs, the down payment or as home decorating or landscaping money.

So if you're in the market for a new home, ask your real estate agent about this new trend in new home buying -- ask them about cash home rebates in your area. The more educated you are about options available to you as a home buyer, the better deal you'll end up making when it comes time to sign on that dotted line.
About the Author
Darlene Bauer with www.RebateJazz.com offers cash rebates to new home and land buyers in the state
of Texas. Discover a little known real estate strategy that puts thousands of dollars into home buyer's pockets!
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