1% of the Purchase Price is Rebated for Your Closing Costs
Hi. I’m Ellis Posner, an independent discount Real Estate Broker.
From my commission, which is paid by the Seller, I rebate 1% of the purchase price of the home to my Buyer clients.
This is easy to calculate. If you are buying a property for $1,000,000 you get $10,000. If the purchase price is $2,000,000 you get $20,000.
The Buyer Rebate is applied to your closing costs by the escrow company at close of escrow. This is a direct savings and reduces the amount of money you will need for settlement. The rebate can not exceed your actual closing costs and any other concessions are applied first.
Closing costs are the additional fees and expenses on your final settlement statement in addition to your downpayment and include any origination fees your lender charges, points, the escrow company fees, prepaid interest, property taxes and about a dozen or so other line items.
How much are closing costs? Your loan officer can best advise you as to what you might pay but as a ballpark figure anywhere between .75 and 1.5% of the purchase price of the home. Closing costs can be thousands of dollars.
You can not use the rebate for any part of your down payment but simply put, you will need less money to close escrow. The rebate comes directly from the buyer agent commission which is paid for by the seller.
And if you are concerned whether this is legal and ethical, agents giving credits to their clients from their commission is absolutely legal and ethical as long as the credits are disclosed to all parties including the lender and handled through escrow.
To get started register on this site using the form in the main menu. If you have questions about this offer use the contact form on the home page or call.
Here’s the fine print and restrictions:
- The rebate can only be credited to your closing costs.
- Purchased property must be listed in the MLS and pay the standard 2.5% commission to the Buyer’s Agent.
- The rebate can not be used for down payment (because the lenders do not allow it).
- The rebate must be disclosed and approved by the lender.
- Credits from the seller or the lender are applied first.
- Your rebate calculation may exceed your actual closing costs. Excess funds can not be recaptured.
- The rebate may not cover all of your closing costs.
- No funds are paid outside of escrow.
- You must sign a Buyer – Broker representation agreement with Ellis Posner.
ABOUT THIS OFFER
The loyalty and support my clients have given me over the years has made me one of the top Realtors in the area and I want to show my gratitude in a meaningful way. Having extra money in your pocket that you wouldn’t otherwise have seems pretty meaningful to me. If you want to contribute that money to a charity or spend it fixing up your new home or going on vacation, that’s your choice.
I have helped hundreds of people Buy and Sell Real Estate in the Los Angeles Area and want to help you too.
If you have a property to sell, you can learn about my 1% listing offer here.
*There are thousands of listings on this site. Offer is only valid when Ellis Posner is your agent and represents you through the close of escrow. Offer is not being made by the listing agents of the displayed properties. This offer can not be combined with other offers.
The reason I am referring to myself in the 3rd person is because I want to make it very clear that this offer is only valid when I am your agent.
FULL SERVICE | DISCOUNT RATES | SAVE THOUSANDS