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)
Palo Alto Real Estate Information
The Palo Alto real estate market is diverse, boasting a wide range of properties of varied sizes, prices and character. Whilst the majority of homes here are mid-century built, Palo Alto is also privileged to host older homes, some of which date right back to the 1890s.
Condominiums and Townhomes throughout Palo Alto start just below $400,000. Some condos with views of the hills can exceed $1,000,000. Single family detached homes range in price from $900,000 to $6,000,000 for large lots and historic homes. Larger estate-style homes in Palo Alto are available ranging in price from $7,000,000 to $10,000,000. Land is also available to purchase within the area as are new custom built homes.
Our Palo Alto MAP Search is the easiest & best way to view, research, compare and save favorites. Sign up to receive email alerts of 'New Palo Alto Listings' the day they hit the market. Review recent closed Palo Alto comparable property. Our business is Palo Alto real estate. Palo Alto and our website gives knowledge and technology to help you navigate all Palo Alto homes for Sale. Research Local Markets, Neighborhoods, Schools and Real Estate trends on Palo-Alto-Home.com.
Palo Alto Community Information
Palo Alto is located in the San Francisco Bay Area within Santa Clara County. The city is named after some tall Redwood trees which can still be found today, at San Francisquito Creek, near Menlo Park. Palo Alto is in the heart of the silicon valley with many high technology companies basing their headquarters here, such as Hewlett-Packard and Facebook. Palo Alto is also home to the prestigious Stanford University.
Sunny and mild all year round, the city of Palo Alto is blessed with natural beauty and an impeccable quality of life. Over 60,000 people make their homes in Palo Alto with it's family oriented lifestyle and historic charm. Palo Alto offers safe streets, mature parks and open spaces. There are a variety of recreational and cultural activities such as arts centers, theaters, gardens and a variety of great restaurants to be enjoyed. This along with the good schooling and diversity of homes, makes Palo Alto a highly desirable area.
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!