New Jersey Home Buyer Rebate Program
Who Qualifies for a New Jersey Home Buyer Rebate? All New Jersey home buyers are eligible including First Responders, Teachers, Active Military, and Veterans.
What Can I Use the Rebate For? Most use it to help offset their closing costs. The rebate is not permitted to go toward your down payment. It will be paid directly to you in the form of a credit toward closing costs or a check provided by the closing agent (title company) at settlement.
Do You Have to Work with an Agent from Mission to Receive the Rebate? Yes. We cannot offer the New Jersey Home Buyer Rebate unless you are working with a Mission Realty Agent to represent you on the buyer side of the transaction. Please note any properties you have previously viewed with another real estate company will NOT qualify for the buyer rebate.
Does the Rebate Qualify for New Construction and For Sale by Owner Properties? Yes, but you MUST have one of our agents accompany you on the FIRST visit to the new construction sales office so that we can register as your agent and thus, offer you a rebate. For FSBO’s, we can offer a rebate as long as the seller is willing to pay a commission to a buyer’s agent. Keep in mind, you will have to let us know in advance so we can contact that FSBO initially and schedule a visit to see your home.
What is the Value of the Rebate? The amount offered is fully detailed in the required buyer broker agreement. The amount of the rebate varies depending on the price of the home and the amount of commission paid by the seller of that property.
Are There Any Fees or Costs Charged by the Agent to Receive the Rebate? Absolutely not! Because the commission is paid by the home seller, there is no cost at all to the home buyer.
I am an Out-of-State Buyer Looking to Buy in New Jersey…Am I Eligible? Yes, anyone looking to purchase a home in New Jersey is eligible.
Why Does Mission Realty Participate in the New Jersey Home Buyer Rebate Program While Most Other Companies Do Not? This rebate presents a cost to the broker, however, we are pleased to offer this opportunity to help defray closing costs. Since we are an independent real estate company, we can set our own policies and offerings and are exempt from the restrictions of larger, franchise companies.
Are Short Sale Properties Eligible for the Rebate? No, because of the tremendous amount of work and challenges involved with short sale properties, we cannot offer rebates in these situations.
Can We Visit Open Houses on our own Without an Agent? Yes, in fact, it is encouraged. Once you hire us as your buyer’s agent and complete and return the required Buyer’s Agency agreement, we will provide you with business cards to hand to the hosting broker at any open house that you visit.