If you have seen or been interested in using a company that will give you cash back at closing, please consider the following:

• The cash you are receiving has to come from someone directly involved assisting you with your real estate transaction - this could be the real estate broker and/or the mortgage broker
• Companies that pay cash back require a fee to be paid to them from the agent they assign to you
• Many of the real estate agents you are referred to charge you an additional "transaction fee" ranging from $200-$500 to make up for the fee they are giving back to you
• The agent you receive may be a new or inexperienced agent who is working with you for a reduced commission
• If the agent the company has assigned to you has several buyers at the same time (which is not uncommon during the moving season), will another buyer's full commission be more appealing than the reduced commission earned from working with you?
• If you are assigned an agent who is inexperienced or not familiar with the market, will you get the home you want at the market price or might you pay more than the money you are getting back at closing?
• Will your assigned agent understand and have the experience to know everything you may need to offer in the contract to get the home you want in a hot Seller's Market like the Hampton Roads Area?
• Are you paying a higher mortgage rate?
• Are there fees involved with the mortgage that you would not have to pay if you had not decided to get cash back?