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Zillow $1000 Special Offer...or scam?

My daughter put in an offer on a property with a "Zillow $1000 Special Offer".  What a scam!!  They ONLY way she could claim the "special offer" was if she offered the seller the EXACT selling price with no negotiation on closing costs.

That's just wrong...shame on you, Zillow...
  • February 04 2013 - Madison
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Answers (3)

Hello,
A Zillow Special Offer is the listing agent advertising on behalf of the seller that they are willing to contribute a certain amount of money as a credit at closing to the buyer. This is commonly called a seller concession. There are rules and limits regarding how much a seller can credit a buyer at closing. Your lender and real estate professional should be able to go over these rules with you.

I'd be happy to look into this particular situation. You can email me by clicking on my photo to get to my profile.

Based on the comments above, if a seller advertised their home for $100,000 with a $1,000 Zillow Special Offer (seller concession), and a buyer made an offer of $100,000 with $3,000 towards closing, the seller has every right to not accept that offer. That offer is $2000 less than what the seller is listing the home for.

Here is a link to the Zillow Special Offer FAQs.
  • February 04 2013
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Profile picture for chris.valdez
The same thing happened to me. I negotiated the price with these seller later to behold I can't get the zillow special offer. What a scam
  • September 18 2014
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Profile picture for alexcinomon93
The special offer thing doesn't make any sense the way it is set up now and is very ambiguous. A listing agent currently must offer a set amount of money as a credit but that will open up many debates like this one. I think for the special offer section to catch on there should be specific offers you can choose such as, seller will pay for home warranty upon closing, or NHD provided by seller, specific closing costs covered by seller, credit for repairs up to X amount. This type of thing would make more sense and create less debates.
  • June 19
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