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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)
Cupertino Real Estate Information
The Cupertino real estate market is one of diversity, boasting a wide range of properties of varied sizes and prices. Condominiums and Townhomes throughout Cupertino start at around $500,000 and some in prime locations can approach $1,000,000.
Single family two, three and four bedroom detached homes range in price from $600,000 to the low $2,000,000 range. Larger estate-style homes in Cupertino with 5 bedrooms or more range in price from $1,500,000 to $3,000,000.
Our Cupertino MAP Search is the easiest & best way to view, research, compare and save favorites. Research Cupertino School Statistics check out recent closed comparable sales. Research Local Markets, Neighborhoods and Real Estate trends on Cupertino-Home.com
Sign up to receive email alerts of 'New Cupertino 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 Cupertino home purchase. I Rebate my Clients 50% of my Real Estate Commission - TAX FREE
Cupertino Community Information
Cupertino is located in Santa Clara County on the west of the Santa Clara Valley and extending across to the famous Santa Cruz Mountains. The city is named after the Italian town of Copertino. Cupertino has been referred to as the “Heart of the Silicon Valley” and is perhaps most famous as the city that now hosts the headquarters of Apple, Inc. as well as many other high tech companies which are based here.
Sunny and mild all year round, the city of Cupertino is largely residential and boasts a high standard of living. Over 50,000 people make their homes in Cupertino with its family oriented way of life, excellent schools and low crime rate. There are numerous pedestrianized areas, shopping centers, regular farmers' market as well as a complex area with a cricket pitch and park where festivals are held.
Cupertino residents are able to enjoy great dining and recreational activities which make this such a desirable city to live in. The location of this city also makes it easy to commute to San Jose, Santa Clara, Palo Alto and Sunnyvale. San Francisco International Airport and Metropolitan Oakland are also close by.
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!