Buyer Rebates
Buyer Rebates is one way Ellen Realty Group shows customer
appreciation by saying "thank you" for allowing
us the opportunity of sharing with you in one of lifes
most rewarding and memorable experiences.
Buyer Rabtes are available only to Buyers who work solely
with Ellen Realty Group under the guidelines below. These
customers must proceed and close in final settlement with
Ellen Realty Group acting as their sole, exclusive, and
only agent in the purchase of their real estate.
The Terms contained within the Buyer Rebate Certificate
must be acknowledged and agreed upon by written acceptance
prior to entering into an Offer to Purchase Contract on
the subject property, and Rebate must be witnessed at
time of Buyer(s) acceptance by Buyer(s) ERG Agent. Buyer(s)
Rebate must be permitted by law and by Buyer(s) Lender.
Buyer(s) Rebate will be disclosed on the HUD-1 or other
official closing statement.
Determining Rebate Amounts
Properties with a final contract selling price of $100,000
or more earn a Buyer(s) Rebate of twenty percent (20%)
of the Cooperating Broker Commission that is actually
received by Ellen Realty Group at the final close of escrow/settlement
for representing the Buyer(s). This amount shall be calculated
net of any allowances or deductions related to the transaction.
Each Rebate is only related to one specific transaction
and on an individual basis. For properties with a final
sales price of $99,999.99 or less, Ellen Realty Group
will offer a Flat Rebate amount of Two Hundred and Fifty
Dollars ($250.00). Any bonuses or additional incentives
offered by a Cooperating Broker in the transaction are
separate to the Rebate Program and are not part of the
brokerage cooperating commission agreement. The Buyer(s)
is not entitled to Rebates associated with these incentives
and/or bonuses.
Ellen Realty Group does not set the amount of compensation
paid by the Selling Broker and therefore has no control
as to the amount paid by Cooperating Brokers. This amount
will vary on individual properties.
All party or parties named on this rebate
guarantee agree that if no commission is paid to Ellen
Realty Group, this agreement becomes null and void and
the rebate offer is voided.
Eligible Parties to Buyers Rebate
The Buyer Rebate will only be paid or credited to the
party or parties named as the “Buyer(s)” or “Borrower(s)”
on the HUD-1 closing statement or other officially titled
closing statement.
All parties named as "Buyers" will be treated
as one party and there will be one compensation paid to
be divided equally among Buyers.
IRC §1031 Tax Deferred Exchange
In transactions 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 Buyer(s), or in the case of
any Exchange, the Exchanger must sign the Buyer(s) Rebate
Agreement before any Rebate will be issued.
Void Where Permitted by Law or lender
This rebate program is only available where
permitted under State and Federal law. Rebate may not
be prohibited by the Buyer(s) Lender(s) and each party
acknowledges that is the responsibility of the Buyer(s)
to bring this to the attention of all parties concerned.
Taxable Consequences
Rebates may have taxable consequences. Buyer(s) and Seller(s)
needing legal or tax advice should consult with the appropriate
professional.
New Construction Rebates
Ellen Realty Group may refer and register Buyer(s)
with a builder/developer when previewing newly constructed
homes. The builder/developer will often pay Ellen Realty
Group a cooperating Broker Commission at close of escrow/final
settlement. The exact amount of compensation received
by Ellen Realty Group will vary based on the particular
builder/developer. Unless prohibited by the builder/developer,
the rebate guidelines for new construction are the same
as for resale real estate, outlined above.
NOTE: Many builders/developers require that an agent must
personally accompany a prospective buyer to the development
on the buyer's first visit for the agent to be entitled
to receive any compensation. Buyer(s) should always
discuss with their Ellen Realty Group Agent the proper
way to preview new construction homes prior to visiting
or touring builder/developer subdivisions in order to
protect their legal rights of representation as well as
to ensure they are eligible to receive their Buyers Rebate.
Referrals to Other Brokers/Agents
Occasionally Ellen Realty Group will refer other real
estate agencies. Ellen Realty Group never guarantees or
warrants the services provided by other real estate brokers/agents,
including, but not limited to their services, practices,
principals, or experience. It is the responsibility of
the Buyer(s) and/or Seller(s) to perform due diligence
as to the professional abilities of that agency and to
proceed if the consumer feels comfortable with the ability
of the agency. A home buyer/seller who is represented
by, or referred to, another broker is not eligible for
a rebate or reduced commission from Ellen Realty Group.
Inaccuracies
Information on this Web site may contain
inaccuracies or typographical errors. Information may
be changed or updated without notice. This Web site does
not constitute an offer or contract. INFORMATION
ON THIS WEB SITE IS PROVIDED "AS-IS" WITHOUT WARRANTY
OF ANY KIND, EITHER EXPRESS OR IMPLIED.
Discontinuations/Modifications
This offer is subject to conditions, limitations, exclusions,
modifications, temporary suspension, withdrawal and/or
discontinuation without notice.
Acknowledged and Agreed to: |