Q. Is this program only available in Florida?
A. No, This program is available for people in every state.



Q. How long does it take once I start the process?
A. We can complete the process in about 7 days but you should plan on 15 to 20 days total.



Q: What does the membership in the OA provide for the home seller?
A: The seller gets to enroll his property into the Owners Alliance and by doing that they enhance the value of their home. Sellers always want to separate their homes from the local competition and do many things to enhance it. These memberships which can convey with the property provides a higher level of value in the marketplace and therefore help the home sell faster at its fair market value.



Q: What does the membership in the OA provide for the home buyer?
A: The home buyer gets to purchase a home he can afford. In times when sellers are letting properties go at reduced prices buyers can buy their dream house without over extending their financial abilities.



Q: What does the membership in the OA provide for the home neighborhood?
A: Neighborhood values are protected from arbitrary price deflations if one or more sellers sell their homes for less than the fair market value which is represented by the appraised price.



Q: Are Earned Income Programs good for mortgage companies?
A: Yes, A bank or mortgage company never wants to take a home back through foreclosure. The hassle, cost and negative outcomes are detrimental to everyone involved. Allowing a seller to use some of the valid equity (meaning they can and will accept less than the property is worth) in their house to enable a valid buyer (meaning they can afford the house) to buy the house reduces foreclosure rates.



Q: What happens to the membership after the sale?
A: The purchased membership can convey with the property after the sale for a multi-year period making the property worth much more than local competing properties that are not members of the Owners Alliance.



Q: Do down payment assistance programs cause more foreclosures?
A: The current mortgage crisis has been blamed on many things and down payment assistance is only one. Many people believe that if a home owner has no "Skin in the Game" he will be more likely to go into foreclosure and walk away from the house. This report from George Mason University uses the 3 main governmental reports to counter that argument. George Mason University DPA Report



Q: Do people using Buyers Account have "Skin In The Game"?
A: Yes. Individuals who use the powerful Earned Income model from Buyers Account do have skin in the game. In every case the home buyer will have a significant Income Tax bill at the end of the year. In addition in most cases the home buyer will pay all costs associated with closing the loan. One other key consideration is that the home owner has a home with equity equal to the amount of his down payment. A home owner with none of his own money on the line and no remaining equity will certainly be more prone to foreclosure in tough times but home buyers who use the powerful Earned Income program from Buyers Account have put their own money on the line and always have a substantial amount of equity in the house so the likelihood of their possible foreclosure is no greater than any other home owner in their situation who did not use our powerful product.



Q: Why is the Account Activation Fee Non-Refundable?
A: We are not able to refund the Account Activation fee because that money goes to pay to setup the employer based payroll account at the bank and to setup the new Independent Dealer into our company payroll system. We can not refund that money because it is spent in setting up the new Independent Dealer.


Q: Why is this membership not considered a "seller concession"?
A: Multiple Reasons.

1. Buyers Account and our partner companies are not party to the real estate transaction.
2. The sale of our membership is independent and outside of the real estate transaction.
3. The membership holds real value and benefits for the Seller, Buyer and Property.
4. Independent Dealer positions are available to anybody regardless of race, sex, religious belief or income.
5. Unlike non-profit "Gifting" programs our customers are not "Gifting" money to be passed through to the borrower.
6. Our customers are purchasing a valuable amenity for their property.
7. This amenity is like purchasing a home warranty for their home in order to help it sell, or a home owner who puts a new roof on his home in order to entice buyers by adding value to the house.
8. The current members of our partner homes have access to the OA for multiple years.

Q: This seems like a home warranty program. Is it?
A: No. but it is just like a borrower asking for a warranty on the home they are purchasing and the home seller agreeing to pay for it from his proceeds at closing.



Q: Why not use a seller concession to cover the down payment?
A: Generally, a seller concession can be used to offset closing costs, but nothing else. Only certain types of funds can be used for a down payment and funds properly classified as "Earned Income" are specifically allowed.



Q. What type of mortgages can be used with the Buyers Account, LLC. program?
A. Just about every type of mortgage can be used with the Buyers Account program. Including residential, commercial, sub-prime, government backed, non-conforming and private loans will work.



Q. What is the maximum membership length?
A. The maximum membership available for sale in Owners Alliance is 20 years. A 20 Year membership would cost the Property Owner 22% of the Property Value plus $500 and would pay a commission of 20% to the Universal Direct Sales Independent Dealer. There are no exceptions to the maximum membership length.



Q. What is the maximum commission?
A. The maximum commission that Universal Direct Sales, LLC will pay on any Owners Alliance Membership is $75,000.00. Any Commission Amount that exceeds $75,000 must be approved as an exception, in advance, by Universal Direct Sales, LLC. In the event that an “Exception” is granted by Universal Direct Sales, LLC a non refundable Exception Fee of $500 must be paid in advance of the establishment of an Independent Dealers savings account if the commission is between $75,000 and $150,000. In the event that the Commission is between $150,000 and $250,000, the non refundable Exception Fee shall be $1,500. In the event that an Exception Fee is paid, the Account Setup Fee is waived.



Q. Why does the Independent Dealer need a savings account?
A. Universal Direct Sales, LLC will establish Savings Accounts for its Independent Dealers so that the Independent Dealer may receive a commission in advance of the Property Owner paying for the Owners Alliance Membership. Commissions will only be deposited in a Savings Account for a maximum of 20 calendar days.
In the event that an Independent Dealer would like the Savings Account to stay open for an additional 30 days, a $299 Account Maintenance Fee must be paid. The $299 Account Maintenance Fee will also be charged in the event that a Savings Account is closed after 20 days and then the Independent Dealer subsequently requests that the Savings Account be re-opened.



Q. Can I see some of what I will get from the membership in the Owners Alliance?
A. Take a look at this 40 page "Benefits Book" to see some of what is available.



Q. Why is the Buyers Account program not a party to the real estate sale or transaction?
A. The Buyers Account program provides primary and ancillary services to our sister companies to facilitate the sale of memberships in the Owners Alliance. Independent Dealers sell the product and are paid a commission for those sales. The commission that they earn is their own money and can be used as they see fit. Those earnings are their "Earned Income" and they will pay taxes on that money in accordance with their tax bracket.



Q. What benefit does a membership in the Owners Alliance give to people, houses and neighborhoods?
A. For the people and properties the Owners Alliance is an ever growing organization that strives to protect the rights of every home owner across the country and give them access to products and services they might never get elsewhere. The OA site and organization changes every day with new additions of partners products and services. We are always looking for better discounts and rebates on everything that has to do with owning a home. Because we are always looking for new additions the membership you get today will grow in value as time goes along. For the neighborhoods the membership and use of the Buyers Account program helps keep property values from being artificially deflated by sellers who sell below market value.



Q. Why do Independent Dealers have to pay taxes on the commission they earn?
A. The commissions earned by our Independent Dealers are properly classified as "Earned Income" and the Independent Dealer will receive a 1099 at the end of the year reporting all commissions paid. Those commission payments will be reported to the IRS and the Independent Dealer will be responsible for paying all taxes.



Q. What happens if my lender requires proof and source of funds.
A. Lenders require different things and we understand that. That is why all commissions are followed up with a commission statement and pay stub via email on the day you are paid. These can be used as proof and source of funds. A VOD (verification of deposit) can be provided by the bank if required by your lender.



Q: Must the money provided by Buyers Account program be seasoned funds?
A: No, buyers can use earned funds on anything. Seasoning is required for savings or other funds but those are a different type of funds for the borrower. They are not "Earned Income."
Seasoning is never required on a borrowers paycheck. Our Independent Dealers receive commissions for selling memberships to the Owners Alliance and that money is their earned income. Our independent dealers receive pay stubs for their earnings and a 1099 at the end of the year.



Q: How is this different from Gifting programs like Nehemiah, AmeriDream?
A: Buyers Account is a "For Profit" business. We do not provide "gifted" money and are therefore excluded from regulations regarding those programs.



Q. What do you think about the HUD ruling on "Gifting" Down Payment Assistance programs.
A. The management, staff, partners and members of the Buyers Account organization believe that HUD has made an incorrect ruling and although we are not affected by this ruling we do believe that contesting the ruling is the right course of action to be taken by all DPA companies. We ask our fellow DPA's and all real estate professionals to join in the fight and call for a review of the ruling.



Q. Does the ruling affect yours or other "Earned Income" companies?
A. This ruling does not effect any "Earned Income" programs and deals only with "Gifting Down Payment Programs."



Q. Do you have information on the HUD ruling of October 1st, 2007?
A. We believe that the Ameridream and Nehemiah websites both have excellent information regarding the current situation and we ask that everyone visit their websites and pledge your support.
We do provide a copy of the report by clicking on this link HUD Ruling Regarding Gifting Programs in that document we highlight where HUD specifically states that commission payments (like realtors payments) are permissible as money for down payments.



Q. How can we help?
A. You should go, and then you should send everyone you know to the emergency alert link on our home page.



Q. How else can we help?
A. Send emails with messages of support to SupportGiftingDPAs@BuyersAccount.com and we will forward them on to all of our grass roots lobbying partners.