Buying a new house can be a huge investment, it also is a way to save some serious money. While many programs offering cash back on home purchases have become popular, you might not even be aware how to get a real estate buyers rebate or new home rebates. Consider a few of these ways to save cash buying a home including negotiating with your realtor.
Get money back if you are working with a local realtor who offers rebates. You could be entitled to a decent percentage back at the closing, but you have to talk with a realtor first because many do not offer these incentives without negotiation. If the realtor wants your business bad enough, they will deal. If not, find a realtor hungry enough to work with you.
Make sure you take advantage of all the tax benefits of buying a home. The government does offer cash back for first-time home buyers that closed a mortgage during the prior year. How much tax money that you will get back does depend on itemized deductions compared to your total standardized deductions. In most cases, you may be better off getting some financial advice from a professional account or calling H&R Block for some helpful advice concerning buying and getting tax benefits.
Getting cash back from your home seller is not out of the question either. If you’re buying the home before it gets to foreclosure, and paying cash rather than buying through a bank, you may be allowed to offer the quoted price for the house. At closing, you could take part of that money back as credit towards any repairs, however you’ll legally able to then report the full price on your taxes, which in turn increases your profits.
When it comes to learning how to get a real estate buyers rebate, don’t be afraid to go right to the source. The realtor will gladly explain how both of you benefit, and how much money you could expect to be banking depending on the size of the house in question. This is free money, you don’t have to qualify for it, you do not have to have your credit checked, all you have to do is make certain the realtor you work with is participating in the deal.
One of the side benefits to all this extra cash in your hands is that you can move up and buy a bigger home without needing that extra cash to deal. For more info on Real Estate Commission Rebates visit: http://rebatesonrealestate.com