This is advertised in many ways on multiple websites.
Home Rebate Program / Realty Plus / Hero's Programs - ETC...
You are a home buyer and want to buy real estate in the Santa Clarita Valley cities.
There are many websites, Credit Union Deals and other providers that will gladly give back some of their "preferred" agents commission to the home buyer.
Some actually offer MLS type websites where a homebuyer is told that they can search for the most accurate real estate listings.
Beware of those sites - Here is the actual Southland Regional Association of Realtors - SRAR website with access to Crisnet and of course it's mine, so no registration is required.
Connor with HONOR, Honors - REBATE's, concessions, money back and discounts from other companies if in writing! Anyone can pillow talk you in - make sure you get it in writing!!!
We cut out the middle person, plus the benefit of working with the Santa Clarita real estate experts has to do with us not owing anyone entity for our home buyer and seller referrals.
Here is an example. When you are working with a loan originator, lender, bank, credit union, mortgage broker, or home lender, it's nice to know if you are getting the shaft or a great deal.
If they are referring you to a "preferred" real estate agent, promising you part of said agent's commission in the form of a rebate towards your closing costs or given to you in some other "legal" way, said agent may not be very upfront when it comes to their charges, performance and track record.
It could be that the "referring party", the credit union, bank or mortgage broker may be giving you a horrible deal. Heck, if their "preferred agent" who is part of their network, dependent on the leads they provide, they won't dare tell you the truth.
I will tell you we have worked with several credit unions and lenders in their "preferred" networks. Do you know what I have found out? I have found that other lenders that we know make much better deals!
They have lower interest rates and fees. Their junk fees are not existent and they work after hours, on weekends and on holidays!
Plus, they are not "application only" communicators. They are real-live, on the phone or in person, people that are accountable and not hidden behind a shroud of organizational protection.
We do it differently and control the ball for the entire game
I have the lenders that give massive discounts to our home buyers if they use us to purchase a Santa Clarita or Greater Los Angeles County home.
I have escrow officers and escrow companies which will honor our program discount when we are representing a home buyer is we can get the seller to work with our team of service providers.
We have other providers that also discount their services for our clients due to the sheer volume we pass along to the same "reputable" tried and true vendors.
Cash Back after closing?
This one is always being talked about online. Where agents and other types of real estate service providers, such as a lender, give money in the form of cashback after the transaction closes.
In some cases, a real estate client was simply overcharged in order to make this allowance appear as something special.
The client has not done their due diligence regarding their charges and they were taken in two ways.
They were taken, probably in the more expensive way, by being given a larger than necessary interest rate. Or the junk fee's were through the roof. These two items can equate to thousands of dollars of "extra" into a real estate lender or mortgage broker's pocket.
The second way is in the form of a rebate. The money you are getting back was yours in the first place. Over time you are going to be paying out that money and more. If you have a 30-year mortgage, you are going to be paying for 30 years if you don't refinance nor sell the home.
Also, if you are given more than a certain amount, in cash, the giving entity is tasked with having to issue you a 10-99. It's a document that goes directly to the IRS so you can be taxed on that additional income. Income that you paid for by way of being overcharged in the first place.
Closing Costs Credit as the form of a rebate
Hey, this one works pretty well because everyone has to agree. The lender, the realtor, and the client has to agree that this is the way the "rebate" / "consideration" is going to be handled.
It's on paper, fully documented and if the real estate agent or lender wants to give up all of their earning in the form of credits to the buyer's closing costs - then so be it.
Just make sure if you are being promised credits such as these, you get it in writing. Remember, any extra monies that are given in the form of closing costs, go to the seller's pocket. Good to know - yes?
I am not a hard line in the sand type of person. I never have been when it comes to people wanting a break when doing multiple transactions with yours truly.
In fact, I'm completely honored to help. Some credit here equates to being referred to those in their periphery and so on.
At the end of the day I can pay google for PPC, or I can pay a client - I'd rather keep the money streaming to our clients for Santa Clarita real estate than in any other "interruption" marketing venue.
Santa Clarita city real estate home buyer grants
Yes, these come up from time to time. But as of this post in January 2020 are nonexistent.
There are various first time home buyer programs that are also talked about in order for a real estate agent or lender to obtain more business. These "programs" are typically just for show and really equate to no additional savings or benefits.
The way to know for sure if ask in writing about these programs that are being advertised and marketed.
Most will not lie in writing. So ask. Hey John, I was reading your blog about a grant program for first time home buyers. Would you please let me know what the benefits are and the details?
If "john" calls you instead of putting it in writing, that's cool. Just talk with him and follow up with him in an email.
"Hey John, thanks for calling to explain the Alpha first-time buyer program. Just a few points I wanted to clarify, is the program a true benefit, will I save more money than if I did not have access to your program? Please explain.
Also, you stated the money is going to be applied to my closing costs. Please provide how much and to what exact closing costs it will be applied to?
I just want to see where the actual money from this program is being applied. For example, if I had to bring in $13,500.00 to escrow to close the deal, that would be my downpayment with my original closing costs, what is the amount now?
No, I'm not being mean, I'm just being real. Most won't answer back if they are advertising a program for first-time buyers that is bogus.
Federal and State grants for homebuyers in Santa Clarita
Something else that sounds awesome is the Federal grant program for home buyers and even home sellers in the Santa Clarita Valley.
Have you seen this advertised when you google it? Actually, at the present time, there is no such thing. However, it's used as a catalyst to get you in the door.
It's something that is used which will get the phone to ring. When the person answering the phone picks up they just sidestep the federal and state grant program you called about and offer you something similar.
It can also be a case where another type of program "or loan" can be morphed into looking like it is a Federal grant program.
For example. USDA assists with homebuyers who are buying in certain areas that are considered agricultural. You may at first glance consider this having to do with large plots of land that are being used to grow things, like avocados.
In essence, you are accurate. However, these areas are established by zip codes. As you know there are some zip codes that contain various types of real estate.
Contained in the same zip code you may find the traditional agricultural real estate that originally came to mind, but you will also find Single Family homes, condos, and town-homes that will also qualify for this low to zero down program for a home buyer.
The clever "deceitful" operator will then sell this as being a Federal Grant program to get you to sign on the line which is dotted.
The whole truth and nothing but the truth
Don't go it alone. Your first stop should be a real estate agent. If you are in the Santa Clarita Valley call me or inquire on this Santa Clarita home expert website.
Second, your realty expert will give you the proper tools, questions, and advice to deal with the others involved in the real estate purchase process.
The money will be saved by you when you make the right choices and know how to ask for what rightly is yours.
I'm Connor with HONOR with REMAX gateway. During the time in which I have been with this corporation, since 1998, I have had nothing but overwhelming good reviews of our protective service model.
When you are ready, I'm Connor, I will be here for you.
Be well and talk soon.