Thursday, August 19, 2010

Is it possible to get cash back from the agent / broker on a new home purchase?

If I find a house on my own and contact the listing agent to show it to me then decide to purchase it (thereby giving the listing agent double commissions), is it legal to ask the agent for cash back on the sale? For ex: I find a house online for 100K, email the agent, set up a viewing, decide I like it, and make an offer that's accepted. Can I tell the agent when making an offer that I expect 1% cash back? Has anyone ever done something like this? Thanks.

Is it possible to get cash back from the agent / broker on a new home purchase?
Yes it is possible except make sure you talk to the agent before submitting the offer so that there are no Grey areas, of course it is up to the agent to either accept your demand or deny it. Good luck.
Reply:If you do not hold a real estate license in your state you are not able to receive a commission for a sale. If you ever asked me to give you money back I would laugh in your face.


Would i walk in to your place of employment and ask for a portion of your pay check? No, I would be completely embarrassed. That would take a big pair of stones. How petty are you? Do you ask the person at the coffee shop in the morning to pay for half your cup of coffee? Wow, I feel sorry for you. SHALLOW
Reply:You're not a party to the listing agent's agreement - However, if you want to do this - this is what you do.





Find a different "buyer" agent - make a contract with them on getting a part of their commission, and then put it in the buyer agent's contract. Then your agent contacts their agent, and that's how you get your cash back.


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