Q #1: How Does the Cash Rebate Program Work?
A: It is very simple; the first $100,000 of the purchase price has a commission rebate of 25% and anything after that has a straight 50% commission rebate. For example, if you purchase a $400,000 home and the commission is 3.5% you would receive a rebate of $6,125. Let me show you how:
First $100,000 x 3.5% = $3,500 (Commission)
$3500 x 25% = $875 (Commission Rebate on first $100,000)
After first $100,000
$300,000 (Remainder of purchase price) x 3.5% = $10,500 (Commission)
$10,500 x 50% = $5,250 (Commission Rebate on remaining $300,000)
Total rebate on $400,000 home with a 3.5% Commission:
$875 + $5,250 = $6,125
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Q#2:
How Much Does Your Service Cost The Buyer?
A: My fees are paid by the Seller - - the buyer pays nothing for my services.
Q #3:
Why Should I Use You As My Agent?
A: As a realtor in the Fishers, Carmel, Noblesville and Geist areas for more than 16 years and having helped more that 400 families with their real estate needs, I feel that I can safely say that "I Know the Market".
- We will sit down together and spend the time necessary to give you a clear understanding of how the home buying process works.
- I will help assess your buying needs.
- I will help you find and negotiate with a mortgage lender, and will
make every effort to get you the best possible financing.
- Together we will search for and find the "Home of Your Dreams."
- I will help you negotiate the very best price and terms available.
- I will handle all contracts and paperwork personally.
- I will help you arrange your Home Inspection and I will personally attend the inspection with you and help you negotiate for the repair of any defective items identified during the inspection.
- I will arrange and assist with all steps necessary for a successful closing.
Q #4:
I've Always Heard That If Something Sounds To Good To Be True, It Probably Is. So What's The Catch?
A: When you buy a home using Jim Cadwalader with HowToBuyaHome.com Inc. as your agent,
THERE IS NO CATCH. You get full service; you pay no fees, and better still, I PAY YOU!
Q #5:
Is There A Home Purchase Price Limit On Which You Will Pay A Rebate To The Buyer?
A: Absolutely NOT!
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Q #6:
How Does HowToBuyaHome.com Inc. Get Paid?
A: The seller pays us for finding a buyer for the property. Our payment is in the form of a commission based on the final sales price of the property. It is the individual real estate agency's choice whether to keep the entire commission for themselves or share it with their Clients. And it's your choice who you want to represent you.
Q #7:
Can I Get The Buyer's Rebate If I Buy A Brand New Home, Even One Built From The Ground Up?
A: The answer is yes, but please be sure to have Jim Cadwalader accompany you on your first visit to the model home so that Jim can register as your Realtor.
Q #8:
Is The Buyer's Rebate Taxable Income?
A: In most cases the rebate will not be taxable income -- the rebate is simply a reduction to the cost basis in the property you buy. There is
no form-1099 because the rebate is not income -- it's the same as a rebate when you buy a car, or a cell phone, or a rebate you receive back on your credit card purchases.
However, depending on how the rebate is paid or realized by Buyer, there may be circumstances in which the
rebate could be construed as taxable income. Consult your tax advisor to confirm.
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Q #9:
Cash Back Rebate Program Terms & Conditions
A: Earn a rebate of the Buyer's Agent Commission when you register and comply with the following Terms and Conditions of the Cash Back Rebate Program.
- If you currently have an agreement in writing with another Realtor to represent you as a buyer's agent, please disregard this program. It is not our intention to interfere with that relationship.
- The Cash Rebate is available only to buyers who close and have final settlement with Jim Cadwalader of HowToBuyaHome.com Inc. acting as their sole and exclusive buyer's agent in the purchase of real estate.
- The Buyer Brokerage Agreement and Cash Back Rebate Program Terms and Conditions must be completed, signed and in the possession of HowToBuyaHome.com Inc. before any rebate will be issued.
- The 50% cash back rebate is conditioned upon HowToBuyaHome.com Inc. receiving a minimum of $3,500 commission on the purchase of the home. If the commission paid to HowToBuyaHome.com Inc. on behalf of the Buyer is less than $3,500, Buyer shall not receive a rebate.
- In the event that a referral fee or commission must be paid to any third party on the sale of the property thus reducing the amount of commission received by HowToBuyaHome.com Inc., then the rebate to Buyer will be reduced by the amount of the referral fee or the commission paid to said third party.
- The Cash Back Rebate will be paid only to the party or parties named as the "buyer(s)" or "borrower(s)" on the HUD-1 Closing statement and cannot be disbursed to a third party.
- THE REBATE MUST BE DISCLOSED, IN WRITING, TO ALL PARTIES TO THE TRANSACTION AT THE TIME OF THE OFFER OR ACCEPTANCE OF THE PURCHASE AGREEMENT. Indiana State Law requires this disclosure; therefore, the buyer and HOWTOBUYAHOME.COM Inc. must be able to show written evidence that the disclosure was made within the timeframe above. If not, buyer and HowToBuyaHome.com Inc. agree that buyer will not receive a rebate on the commission.
- Buyer shall not receive a rebate if buyer purchases a HUD owned property, a VA owned property, a bank owned property, other foreclosed properties or properties where Jim Cadwalader and/or HowToBuyaHome.com Inc. becomes a "Limited Agent."
- If the rebate check is paid to buyer after settlement, then buyer acknowledges that Buyer's cost basis in the real estate shall be lowered by the amount of the rebate. HOWTOBUYAHOME.COM Inc. makes no further representation regarding the tax treatment of the cash rebate if it is realized by Buyer in some other form. No taxes will be withheld from payment. Please consult your qualified tax advisor for more information.
- It is the Buyer's responsibility to disclose the cash rebate to their mortgage company representative at the earliest possible date. Incentives may not be permitted in connection with certain loan programs for the Buyer. These include, but are not limited to, FHA and VA loans. Please consult your lender regarding whether or not you can collect the incentive in connection with your loan. HOWTOBUYAHOME.COM Inc. reserves the right to pay the rebate to home buyer in one of the following forms: 1) paying closing costs on the HUD-1 Settlement Statement if so required by the lender or other party to the closing, 2) in the form of a discount on the purchase price, or 3) in any other form as determined in HOWTOBUYAHOME.COM Inc.'s sole discretion based on the needs or requirements specific to the transaction.
- The Cash Back Rebate Program is subject to conditions, limitations, exclusions, modifications, and/or discontinuation without notice.
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