Get Cash Back
My OBX Homes employs full-service Realtors who can help you every step of the way in your home purchase. And for those who buy a home using our representation, we offer a rebate of up to 1% of the home's price. We have lower overhead costs than most traditional real estate agencies, and we pass the savings on to you in the form of a home buyer rebate. This can mean thousands of dollars in savings on the home you buy.
Here's How The Real Estate Rebate Works:
In most home sales, the buyer does not pay for the commission fees of the buyer's agent. The commission is offered by the seller, and can vary somewhat from one real estate transaction to the next. We offer up to one third of this fee back to you, the buyer - it comes directly off your total cost at closing.
For example, let's say you buy a home for $400,000 through us, and the commission offered to the buyer's agent is 3%. Most real estate agents keep all of this money and use part of it to pay for their overhead costs - franchise fees, administrative overhead, agent's salary, advertising, etc. We have some of these kinds of costs too - we just have a lot fewer of them than most agents. So we normally pass a good portion of the money back to you. In the example above of a $400,000 purchase, you'd typically get $3,000 back as a credit at closing - even before trying to negotiate any money off the price with the seller.
Assuming a 3% commission, examples of typical rebates at given price points are below:
$100k – $199k purchase price = $500 - $999 Rebate
$200k – $499k purchase price = $1,500 - $3,750 Rebate
$500k purchase price and up = $5,000 + Rebate
Sound too good to be true?
It's not. We offer a commission rebate to Outer Banks & Surrounding: 1) because we have low overhead costs and can afford to do this, and 2) to be more attractive to homebuyers than our competitors.
Not all properties that are listed offer buyer’s agents a commission of 3%. If the commission offered is less than 3%, then the rebate is lowered accordingly. We can tell you on any given property what the commission offered is before you see it. Below are typical rebates when the buyers agent commission is 2.5%
$100k – $199k purchase price = $250 - $499 Rebate
$200k – $499k purchase price = $1,000 - $2,500 Rebate
$500k purchase price and up = $3,750 + Rebate
*This Rebate Program is offered when My OBX Homes is either a Buyer Agent or a Seller Sub Agent and the buyer obtains a mortgage that is structured with RESPA guidelines and there is no conflict within a new home construction contract. The rebate will be a line item on the Buyer’s Closing Disclosure as a Realtor credit or closing cost credit to be applied after any seller paid costs.
*Note: My OBX Homes does not give Rebates or Cash Back outside of the Buyer’s Closing Disclosure. It must be lender approved if obtaining a mortgage and recorded on the BCD. Consult with your Loan Officer.