Why We Offer a Buyer Rebate?
Today’s buyers are savvy, and prefer to start their home buying process without an agent. In fact, by the time most buyers are ready to work with an agent, they’ve spent countless hours searching online, driven by homes and neighborhoods of interest, attended some open houses, researched school districts, and applied for a mortgage. All of this upfront groundwork creates a more efficient buying process, which saves us time, and we believe you should be rewarded for it.The truth is, Buyers don’t turn to Capital Key Properties because they need help finding homes or information; they turn to us because they need a professional to protect their best interests. As consultants, we provide expert advice and guidance, focusing on what’s best for our clients throughout the purchase process.
As the traditional role of the real estate agent changes, Capital Key Properties is on your side. We know you do a lot of the fun work in the process of finding your home (even though we are happy to help) and we are excited to offer a Buyers Rebate to credit you for doing so.
Like our competitors, we value our time and expertise, but where we differ, is we also value your participation in the process.
If we’re saving, you’re saving.
Is our Buyer Rebate Program right for you?
It’s a good fit for most buyers but there are requirements to participate in our program. We have a Buyer Rebate Program Agreement that lists our Buyer Participation Requirements, but you can also find them on this page (below).
How our Buyer Rebate Program Works:
- Minimum Buyer Agent Commission Offered by Seller is 2.5% (Standard in the Capital Region)
- Minimum Purchase Price to qualify for a Rebate is $150,000
- $0 – $149,999: No Buyer Rebate
- $150,000 – $199,999: $1,000 Flat Fee Buyer Rebate
- $200,000+: 1% Buyer Rebate
- Mortgage Pre-Approval (We can help): Financial documents must be supplied to your lender
- Continue Online Search: Your search criteria might change and this will help to refine it
- Property Analysis: Review all properties sent by me and provide feedback when necessary
- Drive by Properties of Interest before a showing is scheduled
- Pictures Lie – Many homes are eliminated by the exterior and/or location
- Attend Open Houses: With and without me
How Will I Receive My Buyer Rebate:
Buyer Rebates are usually handled in 1 of 2 ways:
- Credit toward your closing costs – This method is preferred by most clients. Your rebate will show up on your closing statement as a credit, requiring you to bring less cash to closing
- Check after closing – Directly from Capital Key Properties
- Delivered either at closing or 5-10 business days after closing
*Each Buyer/Mortgage is unique, which will require us to work closely with your mortgage lender and Attorney, to determine the best way to utilize your rebate.
*Rebate must be approved by your mortgage lender and be within your loan’s concession limits
Buyer Rebate Program: Legality & Tax Implications:
100% Legal
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100% Legal
NON-TAXABLE
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NY ATTORNEY GENERAL
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NY ATTORNEY GENERAL
NYSAR
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NYSAR
Do you offer full-service Buyer Representation, similar to Non-Rebate companies?
Absolutely! Although, we like to think we offer better service and more value than our competition
Do I have to sign an Exclusive Buyer Agency Agreement?
No. You are free to find new buyer representation at any point. We encourage you to evaluate us throughout the process, which is why we don’t require you to sign a, buyer contract. We’re confident in the value we bring to our clients and we like to prove it.
Does your Buyer Rebate Program have any hidden fees?
Absolutely not!
Does a property have to be listed on the Multiple Listing Service (MLS) to qualify for a Buyer Rebate?
No, but a Seller (FSBO) must agree to pay our minimum commission fee, which is 2.5% of the purchase price. 2.5% Buyer Commission is standard in the, Capital Region
Am I required to use a specific mortgage lender?
No. However, we will have to confirm that your mortgage lender will allow the Rebate. In our experience, most do, but they have different disclosure requirements
Are Buyer Rebates legal?
Yes. They are legal in, NY. Read more about the legality of Rebates here
Are Buyer Rebates considered income and therefore, taxable?
No. The IRS has determined that rebates are not taxable and you can read their ruling here.With that said, tax laws change so we advise you to speak with your accountant and/or attorney
Do I need an agent from Capital Key Properties to attend Open Houses with me?
No. Simply sign in with the listing agent and inform them that you’re working with an agent from Capital Key Properties - Give them the name of the agent assigned to you
Does your Buyer Rebate apply to new construction?
Yes, but you must be working with Capital Key Properties before you register with a builder or they will not pay a buyer agent commission. Discounting on new construction homes is very rare and receiving a buyer rebate is a great way to save on your purchase.
Do Investors and Developers qualify for a Buyer Rebate?
Yes, as long as they meet our Buyer Rebate Program Participation Requirements
How are Capital Key Properties and other Buyer Brokers/Agents compensated?
Buyer Brokers/Agents compensation is determined by the listing agent and seller. When a seller lists their home in the, MLS, they agree to compensate the buyer’s agent for helping bring about a successful sale. We are paid only after you close on your new home
