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)
San Ramon’s Norris Canyon Estates
This website provides information on San Ramon’s Norris Canyon Estates homes for sale. It is essential you work with someone who has experience, professional expertise and integrity. Steve and Zoë Atkinson negotiated with Toll Brothers to buy a home at Norris Canyon for their own family. We can help you negotiate a great deal!
Zoë worked as a Toll Brothers Community Sales Manager at Norris Canyon Estates. Last year she sold over $50,000,000 for Summerhill Homes and she can help you achieve a great deal from the builder. Steve and Zoë have been in business for 22 years and closed over 1,900 homes. We have closed over $110,000,000 of San Ramon real estate alone.
Our MAP Search is the easiest & best way to view, research, compare and save San Ramon favorites. Sign up to receive email alerts of 'New Norris Canyon Listings' the day they hit the market. Log In using your Facebook, Google or Yahoo ID. Check 'Walkscore' - Research School Statistics - Review recent closed Norris Canyon comparables - Google Map View & Street View. Our search is iPhone, Android & iPad friendly.
San Ramon Luxury Real Estate Experts – Over 200 Homes Sold since 2003
Our business is San Ramon luxury real estate. Zoe and Steve Atkinson have closed over 200 homes in San Ramon since 2003. Our website gives knowledge and technology to help you navigate all Tri Valley homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on NorrisCanyon-Estates.com.
We are a Real Estate Agency hiring Top Real Estate Brokers. We believe experience is of paramount inportance in a real estate transaction. We can negotiate an aggressive price and guide you through the tricky closing process benefiting from our experience gained over 22 years of real estate sales.
Buying or selling a luxury home can be a complicated and stressful process, so having an experienced Broker on your side is of huge importance. NorrisCanyon-Estates.com provides an exceptional team of professionals who have your best interests at heart. We negotiated a homes for our Family at Norris Canyon, we understand the process...
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!