$$$ Sell you Daly City 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)
Daly City Real Estate Information
Daly City with its convenient location and views of the Ocean, Bay or even golf courses offers competitively priced homes. Condominiums throughout Daly City start around $400,000 and can approach the mid $700's. Single family three and four bedroom detached homes start below $700,000 and can exceed $1,000,000.
Our Daly City MAP Search is the easiest & best way to view, research, compare and save favorites. Research Daly City School Statistics check out recent closed comparable sales. Research Local Markets, Neighborhoods and Real Estate trends on DalyCity-Homes.com
Sign up to receive email alerts of 'New Daly 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 Daly City home purchase.
Daly City Community Information
Daly City is known as the “Gateway to the Peninsula” and is located at the edge of San Mateo County adjacent to the City of San Francisco. Daly City is a great central location with excellent transportation links for easy access to both San Mateo and San Francisco. Commuting is easily accessible through the close by Highways, BART, Sam Trans as well as being close to San Francisco International Airport.
Daly city hosts a number of recreational sources including the Lake Merced Golf and Country Club. Daly City also has a number of parks and recreational areas as well as the San Bruno Mountain which offer exceptional views of the Bay Area. Daly City has numerous retail areas including the Serramonte Center, the Westlake Shopping Center (both of which have undergone major refurbishment) and the Mission Street retail corridor.
The development of the once rural Daly City continues with the award winning Pacific Plaza which can also be enjoyed within Daly City. This includes a 352,000 sq ft office building, a twenty-screen Century Theatres cinema complex, and approximately 23,000 sq ft of retail outlets. Further offices and a hotel are also planned to further enhance this development. In addition to retailers a number of small business and medical services are also drawn to the area.
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!