Homefun I am a Homesteps buyer select agent in my area. Homesteps (Fredddie Mac) in my area is currently offering 3.5% buyer side commission to all RealtorsÂ® and if the property is sold within 90 days of the initial listing date a 1000.00 to the buyers agent broker.
That said I have buyers that closed on a Homesteps property about 6 weeks ago. The property was listed at 49,900 they purchased it at 47,000 and a 3% seller contribution to closing costs. Financing with a FHA 203k loan. There are 21,000.00 in repairs and energy efficient upgrades that they are doing to the property under the 203k. The neighborhood for their type of home runs in the 95k range. 68,000 in the home, upgraded to one of the nicest homes on the street in a 95,000 neighborhood. Please do not tell me when I disclose any bonus or incentive to my buyers that I have not done the work to earn it. My buyer clients are happy about their new home and the 20,000.00 plus equity that they have.