For the last ten years, real estate agents have introduced new ways to sell and buy homes. This means that most of the customers have a variety of options and incentives as they make their real estate transactions. One of these is the practice of a realtor rebate.

In simple words, it is the cashback that the customer will receive at the closing of a deal.

According to the United States Department of Justice, “commission rebates are usually calculated as some fraction of the broker’s commission and can result in thousands of dollars being returned to the consumer”.

When a person buys a home, a part of the purchase price is used to pay the commission of the real estate agents involved in the deal. The agent for the buyer receives a commission that is equal to 3% of the purchase price of the estate.

This means that the realtor rebate is a part of the commission that the buyer receives from the real estate deal. In the case of DMV Home Rebates, the rebate that is offered to the buyer is $5,000 for every new home purchased for $500,000.

The realtors who represent the buyers will offer rebates to the customers for many reasons. Buying a home is an exhausting and complex process. But the real estate agent uses technology to make this process efficient to improve your home buying experience.

Hence, services like DMV Home Rebates operate in a highly efficient manner and therefore pass on their savings to you as an incentive.

Suppose that your home price is $500,000. This means that if the realtor has to offer you a 1% rebate on the deal, you will end up with an extra $5,000 at closing. This puts some extra cash in your pocket that you can use for making improvements to your home according to your needs.

According to Inland Revenue Services, home rebates are not taxable under Form 1099-MISC. In technical terms, the realtor rebate is a price adjustment and not the income of the buyer.

This means that the buyer can practically subtract the rebate from the final price of their home. You can also check with the representative at DMV Home Rebate for confirmation.

Realtor Rebates are offered in 40 out of 50 US States. This means that the people intending to buy homes in Maryland, the District of Columbia, and Virginia are all eligible for home rebates.

DMV Home Rebates have done the entire research for you. We are a division of Realty Brokerage Solutions, where WE PAY YOU to buy a new home! If you’d like to save thousands, and even tens of thousands of dollars, you’ve come to the right place.

At DMV Home Rebate, we give new home buyers 1% cashback. We feel that the home buyers should be rewarded for all their efforts.