$$$ Sell you San Carlos 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)
San Carlos Real Estate Information
The real estate market within San Carlos is one of diversity, boasting a variety of homes to suit different styles and budgets.
Condominiums and townhouses ranging in size start at $600,000 and reaching just over £1,000,000 for larger homes.
Single family 4 bedroom homes start at approximately $1,200,000 and reach over $3,000,000 for exceptional luxurious homes, some of which enjoy mountainside views.
San Carlos Community Information
San Carlos is located between Belmont and Redwood City on the San Francisco Peninsula within San Mateo County. San Carlos, meaning “Saint Charles” in Spanish, is a residential suburb; close by to the San Carlos Airport, with Samtrams and a Caltrain station, all of which make this an easily accessible location.
Sunny and mild all year round, the city of San Carlos is blessed with natural beauty and a great quality of life. Referred to as “The city of good living”, residents are able to enjoy a vibrant downtown consisting of an abundance of shops and restaurants.
Within San Carlos are a variety of cultural pursuits such as 2 museums and the annual art and wine fair with live entertainment, local artists and wine tasting.
Over 27,000 residents make San Carlos their home. With its safe streets, abundance of open space, outdoors activities and great schools, this affluent neighbourhood is a great 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!