Many programs require an application and approval process to be able to qualify for special financing. Other “rebate” offers require you to wait several days to weeks after you close to receive a check in the mail when you really could have used that money to lower your closing costs.
The Signature Blue team first responder pay back program was designed to be easy to use and provide you with extra funds at closing when you could most use it. To qualify you only need to provide written proof of your status as a current or former first responder or US military veteran and buy or sell a real estate property with a sale price of $150,000 or greater. Your discount/rebate is then written into our representation agreement. When you close on your new home your discount/rebate is applied to your purchase which will lower your bottom line if you a buyer, or add to it if you are a seller.
As former and current first responders ourselves, we at the Signature Blue Team have a unique understanding of the daily life of our men and women in uniform and what it means to make those sacrifices necessary to serve our communities. To help recognize and give back to our first responders we offer a 10% discount or rebate of our commission to our first responder clients.* You only need to show us proof of employment or service to be take advantage of our program, there are no special applications, hoops, or third parties to have to go through in order to receive your rebate. It is our thanks directly to you.
All current or former/retired firefighters/fire service members, law enforcement officers, corrections/probation/parole officers, EMT/Paramedics, and US Military members and veterans. This includes first responders at the local, county, state, tribal, and federal agencies. The sale price of the property your are purchasing or selling must be $150,000 or greater.
Our rebate/discount works slightly differently depending on whether you are buying or selling, and this is a function of how a broker’s commission differs between buyers and sellers. If you are selling a home or property, we will discount our seller’s broker commission by 10% of the dollar amount charged to you. For example if you sell a home with us for $100,000 with our broker’s commission at 3.3%, your actual cost for our broker’s commission would be $3300 minus 10% saving you $330. If your home sold for $500,000, your discount would be $1650. This discount is applied at closing and adds to your proceeds.
If you are a buyer, your broker’s commission is often negotiated with the seller of the home you are buying to be paid in full or in part by them. In these cases, you will receive a rebate of 10% of the dollar amount we receive from the seller or the seller’s broker as compensation. For example if you are buying a home for $100,000 with our buyer’s commission at 2.7% and the seller agrees to pay all of our broker’s commission for you, the sellers would pay us $2700 and we in turn would rebate $270 back to you. If your purchase price was $500,000 your rebate would be $1350. This rebate is available immediately to you at closing and you can choose to receive it as a check or to use that money to directly pay for or offset some of your closing costs. Most buyers will prefer to use that rebate at closing to help lower their costs right away. You do not have to wait a couple of weeks to get a check from a third party for your rebate! If you pay for all or a portion of our broker’s commission as negotiated with the seller, your portion of that commission would be discounted in the same manner as for a seller in the preceding paragraph.
In addition, regardless of whether you are buying or selling, we will pay 100% of the broker/team fee normally charged to our clients. This will save you up to an additional $895 per transaction!
You may have noticed that we distinguish how you will receive your benefit between a discount and a rebate. The reason for this is to be clear where the money for your benefit is coming from. We have to make this distinction because in a technical and legal sense they are different and one cannot be called the other, however regardless of whether it is a discount or a rebate, or a combination of the two the value of your benefit will be the same.
Discounts are applied when you are paying us for our service (our broker’s commission). A discount is an immediate lowering of what you will be charged for our services at closing.
A rebate is applied when a third party, such as the seller or their broker, is paying us for our services (our broker’s commission and/or fees). Instead of a lowering what we charge to you, it is a credit to you which comes from our proceeds which are coming to us from the third party.
If you are selling your property through us you will most likely see your benefit as a discount on your closing sheet. If you are a buyer it will depend on how you and the seller of the property you purchase have decided who will pay for our commission and fees. This can vary so your benefit could be a discount, a rebate, or a combination of the two.
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