Venice realty, inc.
frequently asked questions
What is a New Home Rebate?
Our Florida New Home Rebate is a real estate rebate that we give to our buyers when they buy a new construction home in Southwest Florida. We will be giving you a portion of our real estate commission.
How is the New Home Rebate calculated?
When Venice Realty receives at least a 3% commission, Venice Realty’s Florida New Home Rebate is calculated simply as 2% of the base purchase price of the new home. For example, if the base price is $400,000, then you will receive $8,000 from Venice Realty at closing. (If the Builder pays less than 3% commission, then the New Home Rebate will be adjusted accordingly.)
When do I receive the New Home Rebate?
Assuming builder and lender approval, Venice Realty’s New Home Rebate is applied towards closing costs on the settlement statement.
Do we pay more to have a real estate agent/broker work with us?
No. New home buyers do not pay extra for real estate commission. The new home price is the same whether you work with a real estate broker, like Venice Realty, or you go directly to the builders’ sales center. If new home builders lowered the sales price based on the real estate commission, it would be as if they paid a non-licensed person commission, which is not legal.
Most Florida new home builders expect real estate agents to bring in many of the new home buyers that buy in their new home communities. Real estate agents and brokers are helping Florida new home builders market their new home communities. When you work with Venice Realty, Inc. and the new home builders everyone wins!
What are the terms of the New Home Rebate?
New Home Rebate Terms:
- New Construction Homes Only (does not affect purchase price)
- Venice Realty, Inc. will give their Registered Clients a 2% Rebate towards Closing Costs, when the Builder pays Venice Realty a 3% Commission. Venice Realty retains a 1% Commission from New Home Sales. Alternative Rebate Situations: Builder pays Venice Realty a 2.5% Commission minus 1% to Venice Realty = 1.5% Rebate to Client. Builder pays Venice Realty a 2.0% Commission minus 1% to Venice Realty = 1.0% Rebate to Client.
- Typically, Commission is calculated from the Base Price of Home (upgrades and premiums may not be included, depending on builder)
- Venice Realty, Inc. must be the Broker you are registered with at the New Construction Community/Builder.
- Successful closing on New Construction Home with registered New Home Community/Builder
2% Rebate Examples:
If your new construction home is $400,000, you will receive $8,000 upon closing.
If your new construction home is $600,000, you will receive $12,000 upon closing.
Where do I start with Venice Realty's New Home Rebate program?
Start by learning How It Works.
What does it mean to be "Registered" with a builder?
When Venice Realty registers you at a community with a builder, Venice Realty will fill out the builder’s information card with your contact information and list Megan Hess with Venice Realty as your broker. This is considered being registered with the builder. This documentation is needed for the builder to pay Venice Realty a commission, so Venice Realty can give you a rebate.
What is a "Sales Freeze?"
Sales Freeze (def.) — Due to drastic increases in building material costs and unavoidable delays in construction time, New Construction Community Builders in Southwest Florida release only a limited number of Homes and Lots “For Sale” each month.
How do I get on a "Wait List?"
To buy a New Construction Home in the next 12-18 months, you need to be on the Wait List for your Top 3 Communities.
To Qualify for our 2% Rebate (and put thousands of dollars in your pocket):
- Venice Realty must Introduce & Register you with the Builder.
- Venice Realty must add your name to a Wait List.
How does a "Wait List" work?
When Builders release a New Home or Lot for sale, they contact a list of Buyers who are waiting for the opportunity to buy a New Construction Home. When someone on a Wait List is contacted, they have a short period of time to decide if you are ready to buy with an initial deposit or down payment. Sometimes, the Builder will invite their Wait List to Bid on the newly released Home or Lot.
Should I get a Pre-Qualification Letter from a Lender?
One of the top ways you can show a Builder you are ready to buy a New Home in their Community is to send them a Pre-qualification Letter from your lender (or their lender) or proof of funds, if you are paying cash.
Some Builders even have a Special Waitlist for people who have already provided this information to them.
Save THOUSANDS With a 2% Rebate
Follow Venice Realty’s New Home Rebate program to earn a 2% New Home Rebate when you buy your new home in the Venice, Florida Area.