Rebate Calculator

The Department of Justice maintains a Rebate Calculator  which you can use to estimate  how much you might receive at closing. All commissions vary from house to house so the actual amount received will vary from the results generated here. Since the average commission paid to the selling broker in our area  ranges  from 2% to 2 1/2%  of the sales price  our suggestions for using this calculator are to :

  •  1)  Enter 5% as the Commission Percentage.  (remember these amounts will vary)
  • 2)  Enter 50% as your Rebate Percentage.  
  • 3)  Mark the Radio Button  % of buyer’s broker commission.
  • 4) Hit Calculate for your bottom line result.

    Use Rebate Calculator Here

At closing you walk away with thousands of dollars more in your pocket than the buyers across the street

 NATIONAL REGULATIONS ON REBATES

Some states ban brokers from offering cash rebates to consumers.

US Map with links to each state

 

*** Indicates states that prohibit rebates.
For a complete listing, see Guide to State Real Estate Laws and Regulations.

Department of Justice Efforts to Lift Rebate Bans

The Division investigates state commissions and other bodies that regulate real estate brokers in ways that restrict licensed brokers from offering rebates. The Division also informs states about the competitive effects of real estate legislation.

Cautionary Note:  Under rare circumstances some  Lender Loan Program Requirements could limit or prevent the rebate if it were to exceed the combined amount of all closing costs. You should discuss this rebate with your lender when making application,  have them explain any scenarios  which might bring this into play and  decide in advance on how best to avoid any  possible restrictions they might have. Any such  restrictions can normally be avoided on most loan programs when planned in advance  so talk early and talk often.

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