Arrowhead Escrow Blog

NO MORE BUYER INCENTIVE AND NO MORE BROKER BONUS

On October 1, 2009 there will be new regulations regarding buyer incentives that are given on Southern California HUD Homes. As of right now there are both a $1,000 buyer incentive and $500 broker bonus for Southern California HUD Homes. After October 1, 2009 the only incentive that will be available is the $100 down payment program.

You are not seeing things and just be sure there is no confusion here it is in plain English. The $1,000 buyer incentive and the $500 broker bonus are being eliminated.

THIS IS IMPORTANT:

If you want to take advantage of any buyer incentive other than the $100 down payment program, tentative acceptance must be extended on or before September 21, 2009 and the contract must be executed by PEMCO (HUD's contracted selling agent for all Southern California HUD Homes) prior to 5:00PM PST on September 30, 2009.

Any tentative acceptance extended after September 21, 2009 OR any contract executed by PEMCO after the September 30, 2009 cutoff will NOT be eligible for any incentive other than the $100 down payment option.

If you have any questions regarding these incentives please contact PEMCO at 877-927-7313.

-- Arrowhead Escrow