Coldwell Banker Offering Buyer Bonus

Home sales surged in March and April as home buyers hurried to take advantage of the federal home buyer tax credit that expired April 30, 2010. Eager to maintain that momentum, Coldwell Banker recently launched its own home buyer incentive program.

Coldwell Banker Sea Coast Realty hopes its Coldwell Banker Buyer Bonus program will encourage buyers who haven’t found a home yet to continue looking. It also aims to bring a new audience of home buyers who were unable to qualify for the tax credit into the market. The program offers benefits similar to the federal home buyer tax credit without any income or property eligibility requirements.

Buyers of participating Coldwell Banker Buyer Bonus homes get a refund of 3 percent (up to $8,000) of the purchase price of their home at closing. That’s great news for home buyers, because it means less cash that they’ll need when they close on their home. They also won’t have to wait until tax time to get the money back from the government.

“I think it’s a fabulous idea. [Glenda Newell] told me about it when I was filling out the listing information,” said Susy King of Wilmington. This week, she listed her condominium in The Village at Mayfaire with Coldwell Banker Sea Coast Realty sales associate Glenda Newell. “I saw what kind of activity the home buyer tax credit had, so I immediately said, ‘yes,’ because I want to sell my house.”

“We think the Coldwell Banker Buyer Bonus program will make participating homes stand out from the competition,” says Coldwell Banker Sea Coast Realty president Tim Milam. He says that since the Buyer Bonus program kicked off last week, several buyers have shown interest in the participating homes. He expects even more inquiries from home buyers and sellers as print, online, and television advertising for the program ramps up locally and across the nation.

Unlike the federal tax credit, there are no income or property eligibility requirements. The Coldwell Banker Buyer Bonus program is open to all home buyers and sellers. The program won’t last forever. The deadline for making an accepted offer on a participating home is July 31, 2010.

To search for homes participating in the Coldwell Banker Buyer Bonus program or to read program details, please visit www.coldwellbanker.com/BuyerBonus.