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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)
Foster City Real Estate Information
The Foster City real estate market is one of diversity, boasting a wide range of properties of varied sizes and prices. Condominiums and Townhomes throughout Foster City start at around $300,000 and can approach up to $900,000. Single family three and four bedroom detached homes range in price from $700,000 to approximately the $1,500,000 range.
Our Foster City MAP Search is the easiest & best way to view, research, compare and save favorites. Research Foster City School Statistics check out recent closed comparable sales. Research Local Markets, Neighborhoods and Real Estate trends on FosterCity-Homes.com.
Sign up to receive email alerts of 'New Foster City 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 Foster City home purchase. I Rebate my Clients 50% of my Real Estate Commission - TAX FREE
Foster City Community Information
Foster City is located in San Mateo County and is halfway between San Jose and San Francisco. Foster City is situated on a variety of Bay created lagoons and is named after T. Jack Foster who owned much of the land comprising the city and who was involved in the initial city designing. Foster City is a planned city and one of particular desirability.
Foster City is located 20 minutes from San Francisco International Airport and is near to the San Mateo Bridge. This convenient location close to both the City and Silicon Valley is ideal for those wanting to enjoy the Bay Area to it's full. Sunny and mild all year round, Foster City is blessed with natural beauty and an impeccable quality of life.
Almost 30,000 people make their homes in Foster City with its family oriented lifestyle and charm. Foster City offers safe streets and a phenomenal 19 parks where residents can enjoy a wide variety of recreational activities. In addition to the tennis courts, soccer fields, basketball courts and baseball there are also biking trails which run along the San Francisco Bay.
Foster City also boasts a golf course, excellent windsurfing and sailing opportunities created by the lagoons, and Amphitheatre where residents are able to relax to summer concerts. Foster City with its vast open space and outdoor lifestyle makes this city one of particular desirability.
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!