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)
Gale Ranch & The Bridges Luxury Homes | Shapell New Home Communities
This website to provide information on San Ramon's Gale Ranch and The Bridges homes for sale. It is essential you work with someone who has experience, professional expertise and integrity. Steve has been in business for 22 years and closed over 800 homes. He has closed over $63,000,000 of San Ramon real estate alone and is Broker Associate with Alain Pinel Realtors.
Gale Ranch is an ongoing Master Planned community built by Shapell Industries in the Dougherty Valley. Mosaic is the current collection of homes. Abbington starts at 1,763 sq ft from the mid $500,000's, Belmaison starts at 1,784 sq ft from the mid $600,000's, Athena starts at 2,053 sq ft from the low $800,000's and Florentine goes as large as 4,290 sq ft.
Shapell launched the current phase of Gale Ranch in 2003, from smaller Patio Homes to the prestigious Gallery Collection. These homes are ranging from 1,500 sq ft to 4,673 sq ft, on lots from 3,000 sq ft to over 1/3 acre for the luxury homes. The schools are excellent and one of the compelling attractions of this community.
The Plaza at Gale Ranch opened recently on the corner of Bollinger Canyon and Dougherty. It features a wonderful Safeway supermarket, many restaurants, banks & Peets Coffee. It also brings the convenience of a gas station to the area. Shapell's Gale Ranch is a neighborhood located east of Hwy 680 along Bollinger Canyon in San Ramon, CA. For more information on real estate & homes for sale in Gale Ranch or other San Ramon neighborhoods, please contact Steve.
Use our Interactive MLS Map search tool to find Gale Ranch luxury homes for sale. View all real estate in San Ramon, CA and research the Gale Ranch & The Bridges realty market. Filter search results for Bank Owned REOs (Gale Ranch Foreclosed homes) or Short Sale, Pre-Foreclosure property. Use our RealtyTrac link to all Distressed Property in San Ramon. Gale-Ranch-Homes.com lists Shapell resale houses, townhomes and condos for sale.
The real estate listings on Gale-Ranch-Homes.com are updated throughout the day and features the newest BayEast MLS Listings. We are San Ramon experts and have sold over 100 homes in Gale Ranch, The Bridges & Windemere. My name is Steve Atkinson, an experienced Bay Area Realtor & Broker with over 22 years of real estate experience. Feel free to call with any questions about the current market in Gale Ranch, San Ramon.
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