FAQ

New Home Construction Bay Area

CASH REBATE FREQUENTLY ASKED QUESTIONS

Are the rebates only for first time buyers?

No, the rebates are for any buyer of a new construction home.

Are the rebates income based?

No, there are no income requirements.

Can the funds from the rebate be used for the downpayment?

That depends on your lender. The lender guidelines will determine

how much if any of the proceeds from the rebate can be used as down payment funds.

Where is the money for the cash rebate coming from?

The cash rebate is coming from the agent representing the buyer.

As with any real estate transaction that involves agents, the seller of the property pays a commission to the agent representing the seller and the agent representing the buyer. The builder has already added the cost of the commission to the price of the property.

So if a buyer purchases a property without representation, they have no one looking out and protecting their interest. The seller still pays a commission to the seller’s agent but gets to keep the portion that would have gone to the buyer’s agent. 

If a buyer has already been to visit model homes and wants to buy, can you represent them and give them a rebate?

No. When a buyer visits a new construction site, they are asked to register. Once that

happens, I can no longer represent you. Your very first visit must be with your agent so they can

register as your representing agent. Only then is the agent entitled to be paid a commission which

is where the rebate comes from.

When does the buyer get the rebate?

As with most real estate transactions, settlement is taken care of by a title company. They are given instructions

about distribution of funds. Funds are distributed to the buyer at close of escrow. The buyer gets paid before the agent gets paid.