Commission Rebate

Commission Rebate

The price level of homes on the lakes ( Hartwell & Keowee ) continue to rise every year.

The commissions on the purchase of these homes have, therefore, continued to rise. My services are not worth more than $6,000.00 maximum. Therefore, when purchasing property (land, lots and homes) in a price range that would pay me more than $6,000.00, I will rebate the excess over $6,000.00 to the purchaser at closing. It will be clearly shown on the Federal RESPA HUD-1 document and paid to you by the attorney closing the purchase.*

Example: You purchase a tract of land of several acres for $200,000. The commission, which varies in amount, from one property to the next can be, as an example, 5% or $10,000.00. In this example you would be rebated $4,000.00 at closing.

Example: You purchase a $400,000.00 lake front property. The commission rates vary from listing to listing. A common fee is 2.5% or $10,000.00. In this case $4,000.00 would be rebated to you at closing. Another fee may be 3% or $12,000.00. In this case you would receive $6,000.00 as a rebate.

Often there are additional incentives offered to the Realtor who brings the buyer. I do not accept these incentives. I use them to reduce the purchase price when I begin negotiations on your behalf.

The rebates will come in handy when you move in and need to do some decorating or purchase appliances. Should you be a cash buyer as is frequently the case, than I would use the funds to reduce the contract price if you wished, rather than receiving a rebate at closing.

*If there is a mortgage lender involved, then the lender will have the final approval or rejection of this arrangement. If the mortgage lender does not approve it, then the rebate offer has to be withdrawn, as that is the only way South Carolina Law will allow it to be paid.