Homebuyer Rebate Agreement
David Kelly Homebuyer Rebate Agreement
Review the terms of the 0.25% Maryland Homebuyer Rebate below. This webpage is provided so prospective buyers can review the agreement. Transaction-specific information and signatures are completed with David as part of the buyer-representation process.
This Homebuyer Rebate Agreement (“Agreement”) is entered into between the undersigned buyer(s) (“Buyer”) and David L Kelly Jr, Maryland Real Estate Salesperson, License #657079, affiliated with RE/MAX Solutions (“Agent/Brokerage”), concerning the purchase of residential real estate in Maryland.
Buyer and property information
Buyer name(s): ________________________________________________
Property address: ______________________________________________
Contract purchase price: $____________________
Scheduled settlement date: ____________________
1. Rebate
Subject to the terms of this Agreement, Agent/Brokerage agrees to provide Buyer a rebate equal to 0.25% of the final purchase price of the qualifying Maryland residential property after the transaction closes.
Estimated rebate based on contract price: $____________________
2. Source of rebate
The rebate is funded from real-estate compensation associated with Agent/Brokerage’s representation of Buyer in the transaction. It is not a charitable grant, government assistance benefit, lender credit, settlement-service referral fee, or payment for referring another consumer.
3. Conditions
The rebate is conditioned on: (a) Buyer being represented by Agent/Brokerage in the qualifying Maryland purchase under the applicable written buyer representation agreement; (b) the transaction closing; (c) sufficient real-estate compensation being available from the transaction; (d) compliance with brokerage policies; and (e) compliance with lender, loan-program, settlement, and applicable legal requirements.
4. Disclosure and settlement treatment
Buyer authorizes disclosure of the rebate to the seller, lender, settlement provider, brokerage, and other transaction participants as appropriate or required. The intended treatment is for the rebate to be handled through the transaction at closing in a manner approved for the transaction and properly reflected in settlement documentation when required.
5. Lender and settlement choice
Participation in the rebate program is not conditioned on Buyer using a particular mortgage lender or settlement provider.
6. Changes required by transaction rules
If a lender, loan program, settlement provider, brokerage requirement, or applicable law limits the amount or manner of the rebate, the rebate may be reduced, restructured, or handled in another lawful manner approved for the transaction. If the transaction does not close, no rebate is due.
7. Compensation
Real-estate brokerage compensation is negotiable and is not set by law. This Agreement does not represent that any commission or compensation amount is standard, customary, or required.
8. Entire rebate agreement
This Agreement, together with any transaction-specific written addendum or brokerage-approved rebate form, states the parties’ agreement regarding the rebate. If a brokerage-approved form is required, that form controls to the extent of any conflict.
Buyer acknowledgment
Buyer acknowledges that the rebate has been explained, that it is subject to the conditions above, and that Buyer should notify the lender and settlement provider of the rebate as required for the transaction.
Buyer signature: __________________________________ Date: ____________
Buyer signature: __________________________________ Date: ____________
David L Kelly Jr: _________________________________ Date: ____________
Broker/Brokerage approval (if required): ______________________________ Date: ____________
Ready to use the rebate? Contact David to discuss buyer representation and the transaction-specific agreement.
RE/MAX Solutions · Broker: William Francis · 757 Frederick Rd, Suite 203, Catonsville, MD 21228 · Brokerage/office: 410-747-2800
David L Kelly Jr · Maryland Real Estate Salesperson · License #657079 · Direct: 410-660-7853
Loan Consultant · NMLS #1556506 · loanDepot · NMLS #174457