Sell you Redwood City home for only 1% Listing Fees
$$$ Sell you Redwood City home for only 1% Listing Fees - Save TENS of THOUSANDS!!
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)
Redwood City Real Estate Information
The Redwood City real estate market is one of luxury and diversity. Boasting a variety of exquisite large homes and often with spectacular views, Redwood City offers safe neighbourhoods within a tranquil setting.
Condominiums and townhouses start in price at around $500,000 and can range up to $2,000,000 for larger gated properties.
Single-family three and four bedroom detached homes range in price from $800,000 to the low $3,000,000 range for historic properties.
Larger estate-style homes in the Redwood City with stunning lake or hillside views range in price from $2,500,000 to over $5,000,000.
Redwood City Community Information
Redwood City is located in the San Francisco Bay Area on the San Francisco Peninsula. Sunny and mild all year round, Redwood City, one of the oldest bayside cities within San Mateo County, is blessed with much natural beauty and an impeccable quality of life. Almost 80,000 people make their homes in Redwood City with its family oriented lifestyle and old world charm.
The downtown area of Redwood City has undergone much development in recent years and now boasts a large cinema, theatre complex, restaurants and retail space. The historical courthouse has also undergone improvement with a fountain filled courtyard and colorfully lit glass dome that can be seen in the evenings.
Redwood City offers attractive and safe streets, mature parks and open spaces. There are a number of recreational activities to embark on such as theatres, museums, walking and biking trails, and fishing. Here residents are able to enjoy a real sense of community within the natural beauty of this waterfront area. With its diversity of homes and great recreation activities, Redwood City is a highly desirable place to live.
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!