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)
Redwood Shores Real Estate Information
The Redwood Shores real estate market boasts a variety and diversity of homes. Condominiums and Townhouses start in price at around $350,000 and can range up to the low $1,000,000 mark. Single-family three and four bedroom detached homes range in price from $700,000 to the mid $1,500,000 range.
Use our Interactive MLS Map search tool to find homes and condos for sale. View all real estate in the Redwood Shores, CA and research the 94065 zip code real estate market. Sign up to be alerted of brand new Redwood Shores listings.
Filter search results for Redwood Shores Bank Owned REOs (Foreclosed homes) or Short Sale, Pre-Foreclosure homes. RedwoodShores-Homes.com lists Brand New Homes and Developments for Sale. Our website gives knowledge and technology to help you navigate all Redwood Shores homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on RedwoodShores-Homes.com
Redwood Shores Community Information
Redwood Shores is located on the San Francisco Peninsula. It is part of Redwood City and is close by to Belmont and Foster City. Redwood Shores has a strong economy and is home to some high technology company headquarters, for example Oracle. With its cultural and recreational activities, safe streets and luxurious homes, Redwood Shores is a highly desirable place to live.
This waterfront neighbourhood encourages a family orientated lifestyle amongst many outdoor pursuits. There are numerous recreational activities to be enjoyed amongst this idyllic setting such as canoeing, walking and biking. There is also a private sorts club, the Pacific Athletic Club with exceptional gym, pool and club house facilities.
Redwood Shores Market Specialists
Sign up to receive email alerts of Redwood Shores 'New Listings' the day they hit the market. Log In using your Facebook, Google or Yahoo ID. Check 'Walkscore' - Research School Statistics - Review recent closed comparables - Google Map View & Street View. Our search is iPhone, Android & iPad friendly.
Our business is Redwood Shores real estate. This website gives knowledge and technology to help you navigate all Redwood Shores homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on RedwoodShores-Homes.com.
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!