Cash Back at Closing Information Page

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?

Bottom Line:

Are you really paying for your cash back somewhere else in the transaction?

If you work with me, I guarantee you will get an experienced, knowledgeable, and hard-working Realtor® that will assist you throughout your real estate transaction, with no discount services or additional fees. Provide me with the details of the program you are considering and if I cannot show you how I will save you the equivalent money the relocation company is providing through a lower rate on your loan, less junk fees, or any other additional fees involved with the transaction, I will match your relocation company's offer and give you the same cash back at closing. Allowing a third party in a real estate transaction to collect a fee provides no added value to either the consumer or the real estate professional. If you would like to discuss any program and how you can benefit more by consulting me. Call me!

To see my credentials and experience to be your Realtor, click here - About Me

Julia Shea
Realtor, B.S., M.A., ABR, CRS, GRI, e-PRO
Gold Member, HRRA Circle of Excellence
Nancy Chandler Associates, Realtors
Serving all of Norfolk, Chesapeake, Virginia Beach, Portsmouth, Hampton, and Southeastern Virginia

Toll Free: (866) 232-2288, Cell: (757) 971-6221

Nancy Chandler Associates, RealtorsGRICRS ABRe-PRO
All Rights Reserved. Copyright 2006 © Julia Shea