[ABC11|VIDEO] One program is offering cash in exchange for a forty-year listing contract on your home. It’s called a Homeowner Benefit Program, a program that offers between $300-$5000 cash without taking out a loan. It caught Maria Calder’s attention.
She says, “We thought we could get $800 now.” $800 is what MV Realty offered her. In exchange for that cash, she would have to sign a forty-year agreement on the listing of her home if she wanted to sell it.
“My transaction coordinator did some research. She found out that this document was attached to the deed to the house.”
The document, which MV Realty refers to as a memorandum is attached to the deed on any home they have a contract with, even if the homeowner doesn’t use MV Realty to sell their home. What did this mean for Calder? Boykin explains, “They had to pay that three extra 3% at closing, which meant that seller was paying 6% commission, half to the buyer’s agent half to the seller’s agent, and an extra 3% to MV Realty.”
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