DROdio Home Buyer's Rebate Program
RebateReps Frequently Asked Questions
What is a HUD-1 Statement?
The HUD-1 is a standard form produced by the Housing and Urban Development Authority. The HUD-1 is often referred to as the closing statement because it must be used at all closings and details the monies owed by the buyer to be paid to the seller. Our network of agents provide your rebate directly on the HUD-1 (so long as your lender allows it - see the next question), meaning you can bring less cash to closing.
Other Frequently Asked Questions
- My agent said it was illegal to offer rebates. Is this true?
- How can your Realtors afford to share their commission?
- I already registered with a new homebuilder. Can I still get a rebate through one of your real estate agents?
- How can RebateReps agents afford to give rebates?
- Why don't all Realtors offer rebates?
- My real estate agent said, "You get what you pay for." Will you provide me with the same level of service as a traditional agent?
- Where are you located?
- Would I be getting 'real' cash at closing?
- How do you define 'new home' and 'resale / existing home'?
- Will I have to pay more money for a real estate agent to represent me when buying a home?
- I see that you are located in Virginia, but I'm in Texas. Can I still use RebateReps?
- If the seller pays you a 3% commission, and you pay part of that back to the buyer as a rebate, then what if the seller is offering less than 3%?
- Is your firm directly affiliated with homebuilders like Pulte or Toll Brothers?
- What's the difference between a pre-approval letter and a pre-qualification letter?
- Does the rebate have to be listed on the HUD-1 statement, or can it be given after closing?
- How do you make money?
- How is this all free to me as a buyer?
- I still don't get it - do I really not have to pay to use you?
- My real estate agent said, "You get what you pay for". Will you provide me with the same level of service as a traditional agent?
- Where are you located?
- Would I be getting 'real' cash at closing?
- Do I have to use a certain lender if I use you?
- Are there any states where rebates aren't legal?
- Does a rebate have to be disclosed to the seller?
- Are rebates taxable to me as the buyer?
