Hi, I’m Ellis Posner and when I’m the Real Estate Broker who represents you on the purchase of an eligible home in Southern California, you can save thousands of dollars.

I will give you a rebate from my commission that will be applied to your closing costs at the close of escrow. For you, this is a direct savings which means that you’ll need to bring less money to the closing table. The credit may not cover all of your closing costs but it will free up funds which you can then use for moving, new furniture or other expenses.

HOW MUCH IS THE REBATE?

The rebate amount is based on two factors:

1. Purchase Price

2. Commission offered in the MLS

(scroll down for examples)

If you are financing your home, the credit has to be used for closing costs and there sometimes are limitations imposed by lenders. For cash buyers, the credit can be applied to closing costs or purchase price.

When I’m your agent, you also benefit from the knowledge and experience I have accrued over the last 20 years. I’ve already helped hundreds of other buyers, including first time buyers, and will help you too.

And, I will be with you every step of the way from the first showing until you get your keys.

Ellis Posner | DRE 01416970 | Call or text 310.975.5139

Please note - this is a private page on ellisposner.com. You will not find a link to it on the main navigation menu, so save the link.

PURCHASE PRICE:

Up to $1,000,000 = one half of one percent rebate.

EXAMPLE: Purchase Price $1,000,000 - rebate is $5,000

$1,000,001 up to $2,000,000 = three quarters of one percent rebate.

EXAMPLE: Purchase Price = $2,000,000 - rebate is $15,000

Over $2,000,000 = one percent rebate.

EXAMPLE: Purchase Price = $3,000,000 - rebate is $30,000

Closing Costs Explained

In addition to your downpayment, closing costs are the additional fees and expenses on your final settlement statement.

For Buyers these 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. For Sellers, it is the costs associated with settlement which are different than what Buyers pay.

How much are closing costs? Your loan officer or an escrow or title company can best advise you as to what you might pay but typically these expenses are somewhere between .75 and 1.5% of the purchase price.

Is This Legal and Ethical?

Agents giving credits to their clients from their commission is absolutely legal and ethical as long as the following guidelines are followed:

• Agent credits must be disclosed to all parties and the lender.

• Credits must be handled through escrow.

Additionally for Buyers, the lender must approve of the credits. They almost always do, but it needs to be disclosed because loan programs have limits on credits.

Here’s the details:

• The rebate can only be credited to your closing costs including paying down your interest rate. It can not be used for down payment (because the lenders do not allow it). It also must be disclosed to and approved by your lender.

• If the credit exceeds your actual closing costs, you can only use the amount of the actual closing costs. The rebate may not cover all of your closing costs.

• No funds are paid outside of escrow under any circumstances.

• The home you are buying or selling must be listed in the MLS offering the a buyer’s broker a commission of at least 2.5%. For lower commission rates the credit will be adjusted on a pro-rated basis.

• You must be represented by and close escrow with Ellis Posner as your sole Broker representation and have signed a currently active buyer representation agreement.

• Any seller credits will be applied before the Broker rebate.

• Not applicable to Buyers referred through Chase Agent Express, HomeStory, Fast Expert, and other referral sources.

• Offer is effective only for purchases closing escrow after January 1, 2024.

PLEASE NOTE

This offer is only valid for transactions where the Seller has offered compensation to the Buyer’s Agent/Broker for properties listed in a Multiple Listing Service (MLS).

If you are ready to work together or have more questions, fill out this form.

Put “Buyer Rebate” in the Subject Line.

HERE’S SOME OF THE HOMES I’VE SOLD REPRESENTING BUYERS