Buying New Construction
Receive Up To 2% Of The Total Sale Price Back At Closing On Any New Construction Home, Through Any Builder, Anywhere In Northern Virginia!
Working with The Mayer Team is easy and saves home buyers thousands of dollars. Not many people realize that rebates are available, congratulations on doing the research that led you here! You’ll be so glad you did when you find out just how much money you can save by working with The Mayer Team on your next home purchase.
What is a Home-Buyer Rebate
When a new home is built or sold, the realtor who represents the buyer typically makes a commission of 2.5 to 3% of the sales price of the home, as defined by the builder. The Mayer Team’s New Construction Rebate Program rebates you up to 2% of the sale price of the home which comes from the commission the builder pays the real estate broker. If the builder pays a 3% commission we’ll rebate you 2% of the 3%, if the builder pays a 2.5% commission we’ll rebate you 1.5% of the 2.5%. We will never keep more than 1% of the total sales price and the rest goes to you.
Your rebate is based on the total sales price of the home as defined by the builder. Many builders will only pay commission on the base price of the house and not the options or lots premiums.
As you can see most of the realtor’s commission is RETURNED to you, the home buyer. This applies to any new construction home, through any Northern Virginia home builder. The credit can either be applied to your closing costs, buying down points for a better interest rate or with lender approval, as a check cut to you after closing. It is your choice!
This rebate comes directly from the agent’s commission. It does not interfere with any builder incentives offered to the buyer. In fact, the builder would just keep it, if you were not using a realtor. Plus, the rebate is completely tax free! You will not be issued a 1099 for the return of funds!
Why Does The Mayer Team Offer This Rebate
When you buy a new home through a builder, there is less time involved for the Realtor. The builder’s on-site sales team handles much of the paperwork, greatly reducing our duties during the process. This allows us to offer a generous rebate back to you, the home buyer.
We understand how expensive it can be moving into a new home. The Mayer Team New Construction Rebate Program is a win-win-win program and everyone benefits, especially you!
- Home buyers gets a cash back rebate, which equals thousands of dollars!
- The Mayer Team gains your business as a client and earns 1% of the transaction.
- Builders Sell more homes.
What do I Have to do Next to Make Sure I Receive my Rebate?
Contact us and let me know which home/builder you’re interested in (We can assist with your search, as well). Many builders require that we accompany you on the first visit. Please resist the temptation to go alone, as you could forfeit your opportunity to receive a rebate. After we have accompanied you on the first visit, you can then go back any time you like.
Enter into a Buyers Rep Agreement with us that spells out the terms of the rebate.
Let the builder’s salesperson know that you are working with The Mayer Team at Samson Properties. This must be done on your first visit.
Allow us to contact the builder, so that we can take care of any necessary paperwork to represent you.
Speak with your lender and find out how much of the rebate can be credited to closing costs on your particular loan.
If there is a rebate due to you over and above the amount allowed to be credited towards closing costs, ask your lender if their underwriter will allow your Realtor to credit you the remaining amount on the closing disclosure as a POC item (Paid outside of closing).
If you still have funds remaining, ask your lender if you can use the overage to pay any other costs such as buying down points.
That’s really all you have to do. We handle the rest! It is very simple and straightforward.
Besides the Rebate is There Any Other Reason I Need a Buyer’s Agent?
When you buy a new construction, you get a home you can customize and since it’s new construction what’s there to know, it can seem so easy. It’s a new home so there is no risk of ending up in a home with a bunch of problems caused by previous owners.
Unfortunately, you won’t be the first new home purchaser to discover that buying new construction is not as simple, or as trouble free, as you imagined. There is still a lot that can go wrong, and you can still wind up with a property that is not nearly as perfect as you expected.
The truth is, you need a buyer’s agent to look out for your interests when buying new construction. As with any home purchase, there are too many potential pitfalls, and complications involved in the process to guarantee a good result unless you have experienced help. Here are a few good reason why you need The Mayer Team
We’ll help Ensure You Pick the Right Builder
One of the top reasons why you should have a buyer’s agent when purchasing a new home is to be able to get a professional’s opinion on the reputation of the builder.
One of the greatest things about working with a good Realtor is that you benefit from his or her network of agents, vendors, lenders and other industry professionals. Word gets around when businesses or service providers don’t take care of their customers in the real estate industry.
We’ll Help Guide You When it Comes to the Lot, Location, and Neighborhood
The best value in real estate is not always clear without extensive experience to guide you. While you can just go with your gut, working with your agent can help ensure you make choices about your purchase that will best serve your interests.
Picking out the best lot, the right community for your lifestyle, the neighborhood features you want and the upgrades that are worthwhile, your agent can help out with all of these things. You are the final decision maker, but the best leaders have capable advisers to help guide their choices. While you can choose to work with any real estate agent, having someone in your corner with experience in new construction can be a huge benefit!
For example, in new construction, the lot you choose can have significant consequences. Quite often buyers will be choosing a lot from a classy looking neighborhood plan. It will look all green and pretty. The fact of the matter is you really don’t know what you’re getting from looking at a builders marketing plan.
An agent who knows new construction inside and out will ask to see the lots specific site plan. From this, you will be able to gather the topography of the lot. Maybe you don’t want a steeply sloping lot? How about finding out there is a large drainage ditch in your backyard? Maybe you will discover there is a large utility box smack dab in your front yard! Are you getting the point here?
Many buyers do not think of these things until they have committed to a contract and it’s too late.
We’ll Guide You on Appropriate Upgrades and Plan Modifications
One of the nice things about new construction is you should be able to customize the home to your exact needs and wants. Without proper guidance, you could easily spend a lot of money on things that don’t matter when it comes time to sell.
Again, an experienced buyer’s agent can guide you into some of the best new home upgrades with the highest return on investment. Some improvements really make a difference, while others will bring no return when it’s time to sell.
This is the kind of advice that can help you years later when you go to sell.
We’ll Make Sure All the Paperwork is in Order
Having a buyer’s agent isn’t just important when buying a new home. Having a fiduciary in your corner is always important. Real estate purchases involve a lot of paperwork, documents that can be confusing and overwhelming.
He or she will also help you review any contracts you sign to make sure you are getting what you think you are getting. Your agent will verify that all aspects of the contract are understood by you and that you are OK with them.
We’ll Negotiate on Your Behalf
A strong negotiator understands the true value of all aspects of the deal. Your agent understands what you want and need. He or she also understands what the builder values most. Because your agent sees both sides clearly, he or she is the one most capable of negotiating a deal that will be to your benefit.
For example – everyone knows the builder will want to sell the home for the highest price possible. But the builder is not just motivated by making as much money as possible from the sale. The builder also wants to keep the price high because it helps the builder sell the next home for a similar price.
The builder can point to your sale and expect the next buyer to accept a price that is somewhere near what you paid. However, because keeping the price at a certain point is so important, it means that the builder might be willing to give you other concessions in negotiations, such as offering upgrades.
Keep in mind, however, that every market is different. If the builder is selling all his homes at full price and not give away any upgrades, don’t expect your agent to perform miracles. In some areas, builders can’t build the homes fast enough to keep up with buyer demand. Don’t expect a builder to discount when they don’t need to.
We’ll Represent You Through the Entire Buying Process
Not only does the average person not have the ability to determine which builders are reputable, they may also be taken advantage of by the professionals working for the builder. The builder and the employees of the builder are there to make as much money as possible.
With a reputable buyer’s agent, you get to step back and make the key decisions that will get you what you want, while the agent filters all the marketing, salesmanship and other noise into the facts that will help you make the best choice.
Remember the Builder’s On-Site Salesperson Represents the Builder
Keep in mind that the real estate agent working for the builder is focused on the best interests of his client, the company selling the homes. You deserve to have your own agent, someone who will be looking out for you.
When buying any home, it is always wise to have an exclusive buyer’s representative in your corner fighting hard for your best interests. There are so many questions that can come up when buying new construction. You want a trusted advisor to answer your questions.
Asking advice to a builder representative is probably going to get you very different answers. Hopefully, by now you understand why having a buyer’s agent when purchasing new construction is paramount to your success.