FAQ About New Jerseys Buyer Rebate Program
1) Who Qualifies For a NJ Home Buyer Rebate?
All New Jersey home buyers are eligible including First time homebuyers, Policemen, Firemen, Veterans, Doctors, Lawyers, you name it!
2) What Can I Use The Rebate For?
Most use the rebate to help offset their closing costs ( Attorney fee, Home inspection, Appraisal, etc). The rebate is not permitted to go towards your down payment. It will be paid directly to you in the form of a credit toward closing costs or a check provided by the closing agent (title company) at settlement.
3) Do You Have to Work With An Agent From Our Company To Receive The Rebate?
Yes. We cannot offer the NJ buyer rebate unless you are working with a WildFire Realty Agent to represent you on the buyer side of the transaction. Please note any properties you have previously viewed with another real estate company will NOT qualify for the buyer rebate.
4) Does The Rebate Qualify For New Construction and For Sale By Owner Properties?
Yes, our Home Buyer Rebate program is available, but you MUST have one of our agents accompany you on the FIRST visit to the new construction sales office so we can register as your buyers agent and receive a commission to be able to offer you a rebate. For FSBO’s, as long as the seller is willing to pay a commission to a buyers agent, then we can offer a rebate. Keep in mind, you will have to let us know in advance so we can contact that FSBO initially and schedule a visit for you to see the home.
5) How Much is the Rebate That is Offered?
The amount offered is fully detailed in the required buyer brokerage agreement. The amount of the rebate varies depending on the price of the home you purchase and the amount of commission paid out by the seller of that property.
6) Are There Any Fees Or Costs Charged By The Agent To Receive The Rebate?
Absolutely not! Because the commission is paid by the home seller, their is no cost at all to the home buyer.
7) I Am An Out Of State Buyer Looking To Buy in New Jersey… Am I Eligible?
Absolutely. Anyone looking to purchase in NJ is eligible.
8) Why Does WildFire Realty Participate In The NJ Buyer Rebate Program While Most other Companies Do Not?
Although this rebate has a cost to the broker, we at WildFire are pleased to be able to give back to our clients. Since we are an independent real estate company, we can set our own policies and offerings and not be restricted like the big franchise companies are. We provide FULL service to our clients and are willing to help/assist with their closing costs, etc when buying their dream home.
9) Are Short Sale Properties Eligible For The Rebate?
No. Because of the tremendous amount of work involved as well as the difficulty in working with these types of properties, it isn’t cost effective for us to provide a rebate.
10) Can We Visit Open Houses On Our Own Without An Agent?
Absolutely! In fact, it is encouraged. Once you hire us as your buyer agent and complete and return the required Buyer’s Agency agreement, we will provide you with business cards to hand to the hosting broker at any open house that you visit.
