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Looks like I might be adding my name to the long list of people moving to Raleigh area. I'm going to have do a lot of driving going south, so I was looking in the South Raleigh area, but more I look seems like all the nicer places are in North Raleigh. What's the dynamic here?
I also wouldn't mind using a realtor with a rebate (had good and bad expereinces before, but willing to give it another shot), any suggestions?
Thanks.
And sorry for all the spelling errors (including triangle!)
In the areas I've lived it's pretty common place to have a buyer's agent give you a rebate of their comission at closing (1-1.5% generally), otherwise often referred to as discount brokers. I searched the site and came up with a couple of names, so I think this is out of the way.
Now it's looking at properties, just trying to understand the dynamic of the city (i.e. better vs not so good areas).
I'm a Realtor. I don't give rebates...need to clarify that upfront.
Here is my question...
If you are buying a home that cost $150,000. In this area, agent's commission is 2.4%, comes to $3600. And agent gives you 1%...doesn't that come out to $36???
I'm a Realtor. I don't give rebates...need to clarify that upfront.
Here is my question...
If you are buying a home that cost $150,000. In this area, agent's commission is 2.4%, comes to $3600. And agent gives you 1%...doesn't that come out to $36???
I give better gifts than that!!!
Vicki
I was thinking that it meant that instead of 2.4%, the realtor would take 1.4% and the buyer would take the other 1%. I really don't know though...
If you are looking at homes listed in the MLS in the Raleigh area, you should know its illegal for a broker to give 'rebates, kickbacks' whatever you want to call them.
If you are looking at homes listed in the MLS in the Raleigh area, you should know its illegal for a broker to give 'rebates, kickbacks' whatever you want to call them.
It is not illegal for a real estate broker to give rebates at closing, they must be approved by the buyer's lender and must appear on the HUD-1 closing statement.
I know the subject if a discount broker is very controversial. I didn't mean to start the debate.
What I am more looking for is just some guidance on where in Raleigh to look. My price range is to try and stay under 400-450K. I would really like some acreage (big time racing junkie, need room for a potential second garage). I searched realtor.com and seems like there are a lot of options, all with 0.5 acre and up. Just trying to figure out a good place to start looking.
Once again, I'm sorry for starting this debate, really didn't mean to.
If you are looking at homes listed in the MLS in the Raleigh area, you should know its illegal for a broker to give 'rebates, kickbacks' whatever you want to call them.
Like Leigh said, this is inaccurate.
Documented commission rebates are not illegal, but definitely must be on the HUD1.
OTOH, "kickbacks" are pretty much illegal anywhere in the world that the term properly applies, since illegal activity is implicit in the term's connotation .
Listing on the MLS is not a relevant factor. Any home transaction applies.
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