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)
Searching for Homes & Luxury Estates in the Oakland & Claremont Hills
Steve and Zoë Atkinson have lived in the Oakland Hills longer than any other area and know it very well. We have owned Vacant Land, Condos and 5,300 sq ft Custom Homes in the Oakland Hills. We have been selling real estate for 22 years and closed over 1,900 Bay Area transactions. Our business is East Bay Area real estate. Our website gives knowledge and technology to help you navigate all real estates for sale in the Oakland Hills.
The Oakland Hills real estate market is upscale and diverse. There are numerous newly rebuilt homes with a variety of architectural style which add to the character of this desirable area. Homes for sale with luxurious amenities dominate this attractive neighborhood, though homes are available to fulfill a wide variety of styles and budgets.
Condominiums and townhouses in the Oakland Hills start below $250,000 and range up to the $400,000 range.
Single family three and four bedroom detached homes range in price starting below $400,000 to the mid $1,500,000 range.
Larger estate-style homes in the Oakland Hills with dramatic views of the San Francisco Bay and City range from $1,000,000+ to $5,000,000.
Raw land is in short supply, however new custom built homes are available within the Oakland Hills.
Our MAP Search is the easiest & best way to view, research, compare and save favorites. Sign up to receive email alerts of 'New Oakland Hills Listings' the day they hit the market. Research Local Markets, Neighborhoods, Schools and Real Estate trends on OaklandHills-Homes.com. Review recent closed Oakland Hills comparables - Google Map View & Street View. OaklandHills-Homes provides an exceptional team of professionals with local knowledge & expertize.
Oakland Hill Community Information | Rebuilding After the 1991 Firestorm
The Oakland Hills surround the San Francisco Bay Area and are part of the Pacific Coast Ranges. The Oakland Hills or Claremont Hills refer to the section along the eastern Oakland side of the Berkeley Hills range. Sunny and mild all year round, the Oakland Hills are blessed with natural beauty and an impeccable quality of life. The Oakland Hills are famed for both their luxurious homes and the fantastic panoramic views of the Bay and Golden Gate Bridge. The open spaces and outdoor lifestyle can be enjoyed to the full with exceptional walks and trails to embark on as well as the beautiful recreational Tilden Park and Sibley Park.
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