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Schiever AFB Military Appreciation Program & Frequently Asked Questions
Frequently Asked Questions
How much will I receive as my Military Appreciation Home Buyer Rebate?
You will receive 25% of the Realtor® commission I receive, and you will always know the amount in advance. For most new homes the Realtor® commission is 4.0% of the purchase price, and for most resale homes, it's 3.0%. Use this calculator to see how much money you're likely to receive.
Realtor® commission amounts do vary, they're not fixed. Commission amounts are often less than three percent for foreclosures, and commission amounts for short-sale homes are subject to lender approval. Some builders pay less than four percent for new homes. However, in all cases, you will receive 25% of the Realtor® commission I am paid, and you will always know the amount in advance when you make an offer on a home.
If you're a first-time homebuyer, or not fully acquainted with how Realtors® do business, as a home buyer you do not pay me -- as your Realtor® -- anything for my services. The Realtor® representing the buyer is paid a "co-operating" commission by the Realtor® representing the seller (or by the home builder).
How do I receive my Military Appreciation Rebate, and when do I receive it?
You receive your rebate at closing. Just let me know if you wish to have the money applied towards your closing costs, pre-paid expenses, or VA non-allowables, and this will be shown on the HUD-1 documents. Or, let me know if you prefer to receive the rebate in cash, and I'll give you a check immediately upon the completion of closing.
Is the rebate taxable income?
No, the rebate is tax-free, it simply reduces your taxable basis (cost). The rebate is not income. It's the same as a rebate when you buy a car or other merchandise.
How is it possible that you offer this Military Appreciation Rebate, when other agents do not?
As the owner of an independent real estate brokerage, I don't have to pay a percentage of my Realtor® commission for franchise fees or to a brokerage owner. I much prefer to give money back to my clients, and they sure enjoy receiving it!
Do I have to use a specific lender to qualify for the Military Appreciation Rebate?
No, you may use any lender. Any bank, any credit union, or USAA®, anyone you like!
Is everyone eligible for the Military Appreciation Program?
All active duty, retired military, civilian contractors, and government employees are eligible.
© Copyright 2013, Columbia Properties Residential Brokerage LLC. Licensed by the Colorado Department of Regulatory Agencies Division of Real Estate. Home prices and listing data based on information from the Pikes Peak REALTOR® Services Corp. (RSC). RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market. Sales data based on information from the (Colorado Springs) El Paso County Assessor's office and sales figures do not show seller concessions if any.
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