up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free

In 2006 with many residential real estate markets in the doldrums, real estate agents and home sellers decided giving buyers; flat-screen televisions, tropical vacations, automobiles both new and used, closing costs and a myriad of other freebies would perk up buyers interest in a competitive marketplace.

But many buyers were not buying the incentive hype. And, legally the practice was first questioned as a violation of The Real Estate Settlement Act and professional appraisal standards. Some incentive-filled contracts were executed, but filled with disclosures to mortgage lenders and tax accountants.

Typical sweeteners to buyers:

-One year free condo assessments.

-One year free property taxes.

-Closing costs credit up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free a

new and used, closing costs and a myriad of other freebies would perk up buyers interest in a competitive marketplace.

But many buyers were not buying the incentive hype. And, legally the practice was first questioned as a violation of The Real Estate Settlement Act and professional appraisal standards. Some incentive-filled contracts were executed, but filled with disclosures to mortgage lenders and tax accountants.

Typical sweeteners to buyers:

-One year free condo assessments.

-One year free property taxes.

-Closing costs credit up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free

the practice was first questioned as a violation of The Real Estate Settlement Act and professional appraisal standards. Some incentive-filled contracts were executed, but filled with disclosures to mortgage lenders and tax accountants.

Typical sweeteners to buyers:

-One year free condo assessments.

-One year free property taxes.

-Closing costs credit up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free

losures to mortgage lenders and tax accountants.

Typical sweeteners to buyers:

-One year free condo assessments.

-One year free property taxes.

-Closing costs credit up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free

up to five thousand dollars.

-Free home theater or flat-screen television.

-Free new or used automobile. The gamut ran from 2007 Ford Focus to 2005 Jaguar S Type.

-Free all expense paid trip to Mexico for 2 or a Hawaiian vacation for four.

-Incentives as a percentage of the homes value ranged from 1.5% to 6 %.

The problem with these givebacks is that they don’t always get properly recorded when the home is sold. Real estate appraisers find themselves in a difficult position using a home that they heard, but can’t verify, was sold with significant credits to the buyer as a result of seller sweeteners. On a two-hundred thousand dollar home, a five-percent incentive is ten-thousand dollars; which in effect makes the true sale price $190,000. That’s a large difference, especially considering a seller looking to sell their home and using the $200,000, when the home’s real value to the market is $190,000.