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)
Windemere Real Estate Information
Use our Interactive MLS Map search tool to find homes and condos for sale. View all real estate in the Windemere, CA and research the 94582 zip code real estate market. View all luxury houses for sale and sign up to be alerted of brand new Windemere listings.
Filter search results for Windemere Bank Owned REOs (Foreclosed homes) or Short Sale, Pre-Foreclosure homes. Windemere-Home.com lists Brand New Homes for Sale. Our website gives knowledge and technology to help you navigate all Windemere homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on Windemere-Home.com.
Windemere Community Information
A Master Planned Community situated in the Dougherty Valley area of San Ramon, Windemere has many neighborhoods built primarily by three builders; Brookfield Homes, Centex and Lennar. DRHorton contributed with one condo community called Shelbourne. Windemere features features outstanding new schools in a district ranked #1 in California, miles of walking trails, a Community College, Community Center and a Library. Over 1,100 acres of permanent open space complete this idylic and popular community.
Construction started in 2002 and closed out in 2010. The Plaza at Gale Ranch opened recently on the corner of Bollinger Canyon and Dougherty. It features a wonderful Safeway supermarket, many restaurants, banks & Peets Coffee.
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!