How does the Buyers Advantage Program work?
How does the Buyers Advantage Program work? The Buyers Advantage Program is a partnership between Bella Fonte Realty and IPL Mortgage. When clients choose to work with both Bella Fonte Realty and IPL Mortgage, they receive either a 50% commission rebate from Bella Fonte Realty or a reduced interest rate from IPL Mortgage.
How much of a rebate will I receive?
How much of a rebate will I receive? The most common real estate commission paid by a seller to a buyer’s agent is 2.5% to 3% of the sales price. You will receive half of this commission if you opt for the rebate and not the reduced interest rate. Example: Purchase price of $750,000 and a 2.5% real estate commission = $18,750 gross buyer’s agent commission. The rebate to the buyer would be $18,750 X 1/2 = $9,375. Your agent will let you know what your actual credit will be before writing any offer. The minimum gross commission must be at least $10,000 in order for you to receive 50% of the commission as a rebate (meaning you will receive $5,000 and Bella Fonte Realty will receive $5,000). Most homes in our area of operation exceed the $10,000 minimum commission threshold.
If I opt for the lower rate instead of the rebate, how much lower will the rate be?
If I opt for the lower rate instead of the rebate, how much lower will the rate be? This will depend on several factors, such as which loan program you choose and the overall mortgage market at the time. An IPL Mortgage agent will give you both the standard rates and the lower rates so that you can compare them and review the savings. Our website will always have several programs priced with the reduced rates (so that you can keep track) but all of the programs IPL Mortgage offers are eligible for the reduced interest rate.
When do I have to choose between the commission credit or the reduced interest rate?
When do I have to choose between the commission credit or the reduced interest rate? You can choose between receiving the commission credit or the lower rate up until 10 days before closing.
Will I get less service than a traditional real estate agent if I work with Bella Fonte Realty?
Will I get less service than a traditional real estate agent if I work with Bella Fonte Realty?Of course not! Bella Fonte Realty will provide all the services of a traditional real estate agent, including opening and showing homes for buyers.
What if I already have a real estate agent?
What if I already have a real estate agent? If you already have a signed agreement with an agent for representation, you would need to review your contract for limitations. Buyers must use a Bella Fonte Realty agent as their agent to receive the Bella Fonte Realty rebate.
How do I get started?
How do I get started? You can start looking for homes using the Search Tool or any other online tool such as Zillow or RedFin. Once you have narrowed down your choices, contact a Bella Fonte Realty agent and we will schedule the showings. During this time, an IPL Mortgage agent will get you pre-approved for a home loan and go over the current rates with you.
What if I already found a home?
What if I already found a home? Congratulations! Contact us and we’ll start the process for submitting an offer on your chosen property and getting you pre-approved with IPL Mortgage.
When do I receive my rebate?
When do I receive my rebate? Your Bella Fonte Realty Buyer’s Advantage Program rebate is given to you either after the close of escrow on your new home or through escrow at the close. We can only give the rebate through escrow if there are sufficient closing costs for the rebate to cover (such as escrow, title insurance, property taxes, insurance, etc.). If there are not enough costs for the rebate to cover, then the remainder of the rebate will be paid after the close of escrow.
Do I need to come to your office?
Do I need to come to your office? You can if you like! If you keep your documents in physical form then it’s a good idea to come down to our office to drop them off. Bella Fonte Realty and IPL Mortgage are in the same building, so you can get all your paperwork done at one location. If you’re online like many people are today, then you should be able to complete without having to come down to our offices. All communication can be done via phone, text, or email. We will physically meet you at any properties you wish to see.
How do I decide on an offer price?
How do I decide on an offer price? Bella Fonte Realty will advise and lead you through the home price evaluation, offer, and negotiation process. We’ll review recent sales, current market sentiment, and the home seller’s price flexibility. As experienced negotiators, we’ll navigate you through the offer and counteroffers.
Are there any upfront costs to use Bella Fonte Realty’s services?
Are there any upfront costs to use Bella Fonte Realty’s services? Bella Fonte Realty does not charge any upfront costs.
If I use Bella Fonte Realty’s services and do not find a home, will I be charged?
If I use Bella Fonte Realty’s services and do not find a home, will I be charged? If you are unable to find a home and enter escrow, you will not have any fees due to Bella Fonte Realty. There are no initial fees or cancellation fees charged by Bella Fonte Realty at any time.