When you're ready to start looking at homes all you have to do is pay HomeOwners Advantage a sum equal to or less than 25% of what the approximate commission would be and you'll receive four times that amount, in cash, at closing.
That's it.
Of course, just like listing a home for sale, there is paperwork that needs to be approved by both of us so we are both protected.
Here are three easy examples of how this works:
Example 1:
House Price: $450,000.
Commission at 2.5%: $11,250
Maximum upfront investment: $2,812.50
If you're looking for a home at $450,000 my commission would be $11,250. Since you are only able to invest up to 25% of my commission the most you could pay up front is $2,812.50.
- If you hired and paid $2,812.50 up front you'd receive $11,250 at closing
- If you hired and paid $2,000.00 up front you'd receive $8,000 at closing
- If you hired and paid $1,500.00 up front you'd receive $6,000 at closing
- If you hired and paid $1,000.00 up front you'd receive $4,000 at closing
Example 2:
House Price: $200,000
Commission at 2.5%: $5,000
Maximum upfront investment: $1,250.00
If you're looking for a home at $200,000 my commission would be $5,000. Since you are only able to invest up to 25% of my commission the most you could pay up front is $1,250.00
- If you hired and paid $1,250.00 up front you'd receive $5000 at closing
- If you hired and paid $1,000.00 up front you'd receive $4,000 at closing
- If you hired and paid $750.00 up front you'd receive $3,000 at closing
- If you hired and paid $500.00 up front you'd receive $2,000 at closing
Example 3:
House Price: $1,000,000
Commission at 3%: $30,000
Maximum upfront investment: $7,500.00
If you're looking for a home at $1,000,000 my commission would be $30,000. Since you are only able to invest up to 25% of my commission the most you could pay up front is $7,500.00
- If you hired and paid $7,500.00 up front you'd receive $30,000 at closing
- If you hired and paid $5,000.00 up front you'd receive $20,000 at closing
- If you hired and paid $2,500.00 up front you'd receive $10,000 at closing
- If you hired and paid $1,000.00 up front you'd receive $4,000 at closing
In most cases it takes anywhere from 1-30 days to find a home and usually 30-45 days to close for a total of 31-75 days. How nice would it be to spend a thousand today and get four thousand back in less than 3 months? Not bad!
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