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SAVE THOUSANDS OF DOLLARS WHEN YOU BUY WITH ME
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)
Belmont Real Estate Information
The Belmont real estate market is upscale and diverse. There are wonderful properties of all sizes and types to accommodate a broad range of incomes and lifestyles. Belmont real estate is a great choice for those looking to enjoy the San Francisco Bay Area.
Condominiums and Townhouses throughout Belmont start at around $250,000 and can reach $800,000. Single family three, four and five bedroom detached homes range in price from $600,000 right the way up to $1,800,000 where luxurious homes can be found. Larger estate-style homes in Belmont with exceptional views of the San Francisco Bay range from $2,500,000 to $3,500,000
Our Belmont MAP Search is the easiest & best way to view, research, compare and save favorites. Research Belmont School Statistics check out recent closed comparable sales. Research Local Markets, Neighborhoods and Real Estate trends on Belmont-Home.com.
Sign up to receive email alerts of 'New Belmont Listings' the day they hit the market. I believe experience is of paramount importance in a real estate transaction. My 23 years of real estate sales can help you negotiate an aggressive price on your Belmont home purchase.
Belmont Community Information
Belmont is located within San Mateo County and sits on the San Francisco Peninsula between San Mateo and San Carlos. Sunny and mild all year round, the city or Belmont is blessed with open beauty and a great quality of life. Almost 26,000 people make their homes in Belmont with its open spaces and views of the San Francisco Bay.
Belmont has a quaint downtown of restaurants and coffee shops where residents are able to meet and socialise. This location also makes Belmont an attractive area for commuters with a Cal Train stop and highways 101 and 28 close by. Belmont offers attractive, safe streets and is a quiet and desirable residential community.
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!