Buyer's Cashback Q&A
 
Q Where does my Buyer’s Cashback come from?
A Your seller. That’s worth repeating: your seller pays your Buyer’s Cashback. It costs you nothing. (There are cases where it might be taxed as income. Check with your tax advisor.)

Q What do I have to do to get my Buyer’s Cashback?
A Use Buying Revolution (a trademark of NW Lending & NW Real Estate) as both your real estate broker and your mortgage service. That’s it. Here are the steps.

Q How much is my Buyer’s Cashback?
A For most homes sold today, your Buyer’s Cashback will be 3% of your purchase price minus $2500 (our commission). Here’s how it works out on some sample home prices:

Purchase
price		 3% Our commission Buyer's cashback
$350,000 $10,500 $-2,500 $8,000
$550,000 $16,500 $-2,500 $14,000
$750,000 $22,500 $-2,500 $20,000

Q What’s the $2500 commission for?
A All your Buying Revolution services.

Q That’s it? Even on a million-dollar home?
A That’s right.

Q Is my Buyer’s Cashback always based on 3% of the sale price (minus $2500)?
A Usually, but not always. Your Buyer’s Cashback is your selling agent commission (minus our commission), which is set by the seller. While 80% or so of sellers set the commission at 3%, a seller may choose to set it lower or higher.

Q Is my Buyer’s Cashback really cash, and when do I get it?
A It’s your choice to take your Buyer’s Cashback as:
  • reduced sale price, which you realize at closing
  • reduced loan principal, ditto,
  • reduced closing costs and pre-paids, ditto, or
  • cash (that is, a check from us) mailed within 14 days of closing.

    Note: while our brokers search from hundreds of lenders to provide you the most competitive rates, some lenders restrict some forms of Buyer’s Cashback.

Q Doesn’t a Buyer’s Cashback mean a higher interest rate?
A No way. Compare our terms and you’ll quickly see that when you work with Buying Revolution, you get competitive rates and tough negotiators plus Buyer’s Cashback.