Question 1

How much cash back will I get?

Accepted Answer

You receive a percent of your home value back at closing. This rebate is dependent on the purchase price and zip code of the home. In most zip codes, you are eligible for 1% back when purchasing a home for more than $300,000.

Question 2

Is the buyer rebate legal?

Accepted Answer

Yes! Buyer rebates are completely legal and have been approved by HUD (the U.S. Department of Housing and Urban Development). They're available in 41 states. The only states where buyer rebates are currently prohibited are Alabama, Alaska, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee.

Question 3

When do I receive my rebate?

Accepted Answer

Your rebate is paid at closing. It's typically applied as a credit toward your closing costs or paid directly to you as cash, depending on your preference and lender requirements. This means you'll have the money immediately when you close on your home.

Question 4

Do I have to work with a Picket agent?

Accepted Answer

Yes, to receive your Picket rebate, you'll need to work with one of our partnered real estate agents. These agents are experienced professionals who understand the rebate process and will ensure you receive your cash back at closing. We'll connect you with a qualified agent in your area.

Question 5

Does the rebate affect my mortgage or down payment?

Accepted Answer

The rebate is applied at closing and can often be used to reduce your closing costs or increase your available cash. Your lender will need to approve how the rebate is applied. In most cases, it does not affect your mortgage qualification or down payment requirements, but we recommend discussing this with your lender early in the process.

Question 6

Are there any fees or costs to use Picket?

Accepted Answer

No! Picket is completely free to use. There are no upfront costs, membership fees, or hidden charges. You simply use our platform to search for homes, work with a Picket-partnered agent, and receive your rebate at closing. The rebate comes from the commission paid to the buyer's agent.

Question 7

Can I use Picket if I'm co-buying with friends or family?

Accepted Answer

Absolutely! Picket is designed to support co-buying scenarios. Our platform includes tools to help multiple buyers calculate their combined affordability, track contributions, and manage the co-buying process. The rebate applies to the total purchase price regardless of how many buyers are involved.

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