Real Estate Rebates - Good News - Kentucky Changes Its Laws

In an effort to keep the home buying public up to date about receiving an un-advertised home buyer rebate the next time they buy, I have discovered that Kentucky now allows buyer rebates and incentives by agents under the following terms of Kentucky Real Estate Law:

Kentucky Real Estate Professional and the Law

NOTICE: On July 15, 2005, the Kentucky Real Estate Commission and the United States Department of Justice filed an Amended Final Judgment in federal district court. On July 13, 2005, the Commission filed emergency regulations. Because of this Amended Final Judgment and these emergency regulations, Kentucky real estate licensees may now offer any inducement or rebate, so long as it is disclosed in writing to the client or customer. Therefore, any portion of this book that references the inducement and rebate prohibitions found in the old versions of KRS 324.160(4)(m), 201 KAR 11:011, Section 1(5) and/or 201 KAR 11.121, Section 1(2) is now obsolete. Please refer to the Commission's website at www.krec.ky.gov for additional information on the Judgement and the new laws allowing inducements and rebates by Kentucky licensees. Please refer to the box at the top of this Legal Information Section for additional information on the Judgment and the new laws allowing inducements and rebates by Kentucky licensees.

Previously, I had mentioned in other articles that the states of AK, ID, IA, KS, KY, LA, MS, NJ, OK, OR, TN and WV had restrictive laws regarding incentives and rebates. As I further research these state laws, I have found things changing as the DOJ (Department of Justice) investigates and sues these states for their restrictive behavior regarding this subject.