I REBATE 50% of my Real Estate Commission to my Buyers
80% Buyer Rebate on Brand New Homes!
I must register you at the Community on your 1st visit
Buy a home with me and receive a cash rebate of HALF my commission. To qualify for this offer Buyers agree to tour homes themselves via Open Houses and Broker Tours. Let me know of a property that interests you and I will take things from there. Comparative Market Analysis, Negotiating your offer, All Inspections and Appraisals to Closing. Home sellers normally offer a buyer’s agent commission of 2.5% – 3.0% of the purchase price. Your rebate will be 1.25% – 1.5% of the purchase price*
How will I receive my California real estate commission rebate?
Credit on your closing statement – My rebate will be itemized on your HUD1 closing statement as a credit. Buyers can apply their rebate to closing costs, which include loan fees, property taxes and escrow-related fees. As my commission refund may exceed closing costs by thousands of dollars, I can issue my client a check for the excess. Your Lender will require that you have sufficient funds from your personal savings, Stocks or a Gift (documented with a Gift Letter) to cover your down payment, closing costs and reserves. A Broker Rebate typically cannot be used towards your down payment and you should confirm with you Lender if a Broker Rebate is allowed.
Check after the close of escrow – some clients prefer to receive their rebate outside of escrow. In this case I will mail your rebate check on the day of escrow closing.
Is a California real estate commission rebate taxable?
NO, real estate commission rebates are not considered taxable by the IRS. A rebate will reduce the cost basis of your home (the price you paid). For example: If you purchase a $1,000,000 home and I rebate you 1.5% ($15,000 assuming 3% commission) your cost basis would be $985,000. It represents an adjustment to the purchase price of the home and generally is not part of a purchaser's gross income. When you sell your home any profit would be based on that purchase price. I do not report a commission rebate to the IRS and I will not issue you a Form 1099. With all tax related concerns please verify with your Tax Attorney as individual situations may vary. See this article on the subject from Redfin: "IRS Rules That Redfin Does Not Have to Report Commission Refunds as Taxable Income"
Is a commission rebate legal?
100% YES, The United States Department of Justice has a webpage entitled "Rebates Make Buying a Home Less Expensive". Ten states have enacted laws that forbid brokers from offering refunds, thankfully, California allows me to share my commission with you.
(*subject to a minimum commission of $10,000 to Steve Atkinson, Broker)
Mountain View Real Estate Information
The Mountain View real estate market is diverse, boasting a wide range of properties of varied sizes, prices and character. Condominiums and Townhomes throughout Mountain View start at $400,000 and some larger 3 and 4 bedroom condos can approach the $1,000,000 range. Single family detached homes range in price from $800,000 to the low $2,000,000 range for larger 4 and 5 bedroom.
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Our business is Mountain View real estate. Our website gives knowledge and technology to help you navigate all Bay Area homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on Mountain-View-Home.com.
Mountain Community Estate Information
Mountain View is located in the San Francisco Bay Area and in Santa Clara County. The city is named after the fantastic views of the Santa Cruz Mountains. Situated in the Silicon Valley, close by are the numerous headquarters of many technology companies such as Google and Symantec. Also close by are Los Altos, Palo Alto and Sunnyvale.
Over 70,000 people make their homes in Mountain View with its family oriented lifestyle and welcoming sense of community. There are a variety of recreational activities that residents are able to enjoy such as the parks, Amphotheatre, museum and shopping center. In addition stunning scenery and creek can all be explored where walking and cycling trails can be followed. This along with its safe streets and diversity of homes make Mountain View a desirable community to live in.
Want more Information? Like to view a home? Interested in Selling? (415) 613-8940 Steve@Houses.com
I BEAT Redfin's Buyer CASH Rebate. I have closed 800+ Bay Area Homes. I believe that Experience Counts!