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We want to make sure everyone is 100% clear about this information:
New Market Realty Inc has offered to the Buyer an inducement or rebate of 60% which is (1.5%) of the compensation received by the Brokerage Firm (but in no event shall the inducement or rebate be greater than one and one half percent (1.5%) of the purchase price of the residential real estate) (the Inducement), as the result of the Brokerage Firm performing services and earning the compensation for the services when the Buyer has completed a purchase of residential real estate from the Seller.
Not all sellers and builders pay 2.5% buyer's side commission. Some pay less than 2.5%, some don't pay anything. If they pay less than 2.5%, we will give you 60% (which is 1.5%) of the commission earned. If they don't pay anything, we will still help you if you need it, but we won't be able to rebate you anything.
The seller’s agent usually negotiates the commission paid on a real estate transaction to either agent. Sometimes the real estate commission earned is based on a figure lower than the purchase price. If the commission is less than 2.5%, we will still rebate 60% (which is 1.5%) of the total real estate commission earned.
Your rebate check will be sent to you 5-7 business days after closing on your new property. The rebate check will be made out to the person/persons named on title of the new property only.
