Cash Back Real Estate Details
What kind of property can I buy?
For a cash rebate, you need to purchase and execute a purchase contract with us on any of the following properties. New homes, single family residences, multiplex ( 1-4 units ), condos, townhomes, and larger non-farm type homes with up to 5 acres. These properties must offer and pay a co-op of at least 2%, often called a "buyer's agent commission". Today, 99% of the homes listed on any MLS will offer a co-op. The co-op is built into the asking price and the seller's agent typically keeps the commission if a buyer approaches without an agent or representation. New homes can offer more!
Why don't I just go direct to the listing agent?
Biggest Myth In The Business - Keep in mind that the agent who is selling or listing a home is looking to get the seller the best possible deal and the highest price. Is going direct to the listing agent going to save you money? NO WAY. It will cost you more than money. Often the agent will get paid a 6% instead of the usual 3% commission when you don't have an agent representing you. Why do you want to make an agent wealthy and have that agent look out for the seller when it comes to price or negotiations? Why allow the chance that an agent will conceal a problem with the home or neighborhood in the process? Get represented with me and protect yourself from the listing agent. Remember, the agent is under contract with the seller - It is a natural conflict of interest to represent the buyer and seller. Even if the seller's agent agrees to rebate you, and most will not, you are losing the defense of an agent on your side. Most agents will also consider this a violation of the real estate codes in their defense of keeping ALL of the commission.... Why should an agent share their easily earned commission...Consider it like going to court to fight someone suing you. Would you ask the other side's attorney or office for legal advice?
You will receive 30% of the gross commission as long as the commission offered is above 2%. The rebate will come from the buyer's agent commission and be rebated to you within 14 days of close of escrow. Certain terms and conditions apply. Read below.
Important Details
IMPORTANT: Offer is valid for most homes, however, you must go with William Gray of Utopia to your first on physical visit.
This is very important for new homes and builder sites. You will be required to register with William Gray to qualify for the Cash Rebate. This is the builder rule or you will destroy any chance of any concessions from the builder and not receive a cash rebate. NO Exceptions. For any transaction, you must have not signed any "Exclusive Buyer Broker Agreements" or other documents with another real estate agent or broker. You must inform us immediately before proceeding or you will not receive your cash rebate. NO Exceptions.
Rebate is available only to buyers who close escrow/proceed to final settlement with William Gray of Utopia acting as their sole and exclusive agent in the purchase of real estate. For homes with a final sales price of $100,000.00 or more, the rebate is thirty percent (30%) of the cooperating broker commission actually received by William Gray of Utopia at the close of escrow/settlement for representing the buyer net of any allowances or other deductions by William Gray of Utopia related to the transaction. For homes with a final sales price of $100,000 or less, the rebate is Five Hundred Dollars ($500.00). Some homes will only qualify via the net price, minus any extras like upgrades or concessions. You are responsible for clarifying this before close of escrow. This is mostly true for new homes and builder specials.
Occasionally, the seller and/or listing broker in a transaction will offer the broker representing the buyer a bonus or other additional incentive over and above the cooperating brokerage commission. Any such bonuses or other additional incentives are separate and apart from the cooperating brokerage commission actually received by William Gray of Utopia and buyer is not entitled to a rebate on any bonus or other additional incentive monies paid to William Gray of Utopia over and above the cooperative broker commission. However, if a seller is offering a higher than standard commission, as in the case of new home builders, then the standard split will apply.
The amount of the cooperating broker commission received will vary on individual properties. The rebate may be paid or credited to the party or parties named as the "buyer(s)" or "borrower(s)" on the HUD-1 Closing Statement or equivalent official closing statement. In the case of an IRC §1031 Tax Deferred Exchange ("Exchange"), the party named as the "buyer or borrower" is the Qualified Intermediary (the "Exchange Company") and the rebate will be paid or credited to the Exchange Company for the benefit of the party conducting the exchange (the "Exchanger").
All buyers, or in the case of any Exchange, the Exchanger must sign a Rebate Agreement with William Gray of Utopia before any rebate will be issued. This rebate program is only available where permitted under state and federal law and when not otherwise prohibited by the buyer's lender(s).
There may be tax consequences to the rebate. If you need legal or tax advice, you should consult with the appropriate professional. This offer subject to conditions, limitations, exclusions, modifications, and/or discontinuation without notice.
Calculate Your Rebate !
1. Enter the purchase price in the calculator
2. Multiply the purchase price by .03 ( commission )
3. Multiply this figure by .30 ( your rebate cut )
This is the dollar figure you will have rebated within 14 days of close of escrow. Based on a 3% buyers agent commission.
Example: On a $500,000 home you enter 500,000 x .03 x .30.
Your final figure would be $4,500
Typical Pre-Owned Home Rebates *at standard 3% buyer's agent commission
$400,000 Home = $3,600 Rebate
$500,000 Home = $4,500 Rebate
$600,000 Home = $5,400 Rebate
$700,000 Home = $6,300 Rebate
$800,000 Home = $7,200 Rebate
New Home Rebates *at special 6% buyer's .agent commission
$400,000 Home = $7,200 Rebate
$500,000 Home = $9,000 Rebate
$600,000 Home = $10,800 Rebate
$700,000 Home = $12,600 Rebate
$800,000 Home = $14,400 Rebate
Why do I rebate my real estate agent commission check?
For years, real estate agents and loan officers have been making a solid percentage off each sale or loan. These commissions and fees grew larger and larger as prices increased. This slowly raised the cost to the user of such services, without an increase in value. Here I come, bringing you more value and reducing the cost of homebuying. Wouldn't it be great to get something back? We've discounted listing fees for a long time now, why not the buyers fees. This incentive helps with closing costs, moving costs, and the other non-negotiable fees. It provides a cushion to the buyer who may have just put his or her life savings into the loan or closing costs, for the buy of a lifetime. It's good for the industry.
Add the government rebates and credits into the mix and you've got the potential of $20,000 rebated back to you !
How do I calculate the
home buyers
rebate ?
Click Here To See
* Homes Under $399,999 will have the home buyers rebate subject to a $599 Transaction Coordination Fee or Processing Fee before the 30% rebate is applied.
A $100,000 Minimum Purchase Price Applies For all home buyers Rebates. Rebates only
valid with cooperating agent commission at 2% or higher.
.
William "Bill" Gray
CA DRE #01346229
The 24 Hour Realtor: Toll Free (888)34-CASH5 or (877)520-5911
"Realtor and Real Estate Agent = Rebate" Cash Rebates For Buying or
Purchasing A Home in California !
* Homes Under $399,999 will have the home buyers rebate subject to a $599 Transaction Coordination Fee or Processing Fee before the 30% rebate isapplied.
A $100,000 Minimum Purchase Price Applies For all home buyers Rebates. Rebates only
valid with cooperating agent commission at 2% or higher.
.
