Not only is it legal in New York State, but the practice of brokers providing rebates to buyers is also actually encouraged by our state’s government. New York Attorney General Eric T. Schneiderman wrote this letter encouraging rebates as a method in which to promote better competition in the residential real estate industry.=

No, the rebate does not appear on the HUD form. It is paid separately, at/or post-closing.

That’s probably because the business model for a traditional broker doesn’t allow them to pay out rebates and they are not incentivized to do so. Traditional brokers usually have substantial overhead on lavish office space, expensive phone systems, extensive use of printed marketing materials, and other costs common with the traditional brokerage model. At NestEdge, we run lean. No lavish office space. No expensive phone systems. No cardboard-printed mailers. We save that money…and pass the savings on to our clients.

In most cases, yes. Contact us!

At NestEdge, we are happy to be involved AS MUCH or AS LITTLE as you like. If you would like us to be at all showings, your inspection, deeply rooted in the negotiation, and at the closing…we will do ALL OF THAT. If you prefer to run the show yourself and call us at the end, you can do that too. Just call us prior to locating your dream home and we’ll guide you on how to handle either scenario or one in between.

The IRS determined in a private letter ruling that rebates granted to buyers from brokers are not taxable, instead, the rebate would decrease the cost basis for the home when it is eventually sold. For example, if a buyer receives a $10,000 rebate on an $800,000 purchase, the cost basis of the property at the time of sale would be $790,000 as opposed to $800,000. Although private letter rulings are only binding on the party to whom the ruling is issued, NestEdge operates pursuant to the IRS’s guidance in this ruling and does not issue clients 1099 in connection with the rebate. We always advise clients to consult with a tax professional with respect to the tax implications of the rebate. The IRS ruling can be found here.

Your rebate is calculated and presented to you prior to you signing the contract. The rebate varies on a number of factors including how many homes we showed you and the collected commission amount. We can always estimate the rebate when you see a particular home. Just ask!!!

Clients directly referred from paid sources such as Zillow & Trulia, clients who see more than 25 properties with our agents and clients who have been engaged with NestEdge for 6 months prior to signing a contract are not eligible for a rebate. Rebates are also not offered on Land, Knock-downs, New Construction or clients completing a concurrent purchase & sale.

If a buyer is not represented by a broker, the selling broker would keep the entire commission (typically 6%). Further, the selling broker can not legally give you a discount due to your lack of representation. By using NestEdge, you are guaranteed to take home a portion of the broker’s commission.

We are a members of Hudson Gateway. As members, all brokerage houses are contractually obligated to work with us, and do so willingly.

Absolutely. Contact us and we’ll explain the details.

Prospective clients DO NOT need to show identification, Clients ARE NOT required to sign exclusive broker agreements and Pre-Approvals ARE required in order to view properties. Read the document here.

Closing costs are fees charged for services and administrative tasks associated with the purchase or sale of a home. The total amount of closing costs can vary depending on your situation but typically range from 2-5% of the home’s purchase price.

The exact nature of the closing costs will differ based on a variety of factors including location, property type, and loan program. Generally speaking, they may include attorney fees, title search fees, appraisal fees, land survey fees, recording fee taxes as well as other miscellaneous charges such as postage and notary service expenses.

Although closing costs may seem daunting at first glance it is important to remember that they are an essential part of any real estate transaction and are necessary in order to ensure all parties are protected throughout the process. As such it is wise to be prepared ahead of time by understanding what types of costs you should expect so you can budget accordingly and make sure that everything goes smoothly with your home purchase or sale!

Finding the best realtor near me can seem like a daunting task. However, with the right research and guidance, choosing a reliable and experienced real estate professional to guide you through your home-buying or selling journey doesn’t have to be difficult. Here’s how to go about it:

First of all, talk to friends and family who have recently purchased or sold a home in your vicinity. Ask them if they were happy with their real estate agent. If they recommend one then you can use them as a reference point for further researching potential agents.

Next, research licensed realtors in your area by looking at resources like The National Association of Realtors or local listings on reputable sites such as Zillow or Trulia. Read over each agent’s profile to get insights into their past experiences, areas of expertise, customer reviews, and so on. Make sure that the person you choose has appropriate certifications from credible institutions before engaging any services from them as this is an indication that they value quality service standards for their clients’ needs.

Thank you to Elizabeth Shepard for sharing this information with us!

Buying a home is an exciting yet complex process. As such, it’s important to enlist the help of a professional to ensure you make all the right decisions and avoid any costly pitfalls along the way. Here are some key steps in the home buying process:

1. Get Pre-Approved: The first step towards owning your own home is to get pre-approved for a mortgage loan. This will give you an indication of what size loan you can expect to be approved for, as well as what types of properties would fit within your budget.
2. Find Your Ideal Home: It’s time to start looking at properties that match your needs and desires! Work with your real estate agent or do some research on your own using websites like Zillow or Trulia in order to narrow down potential homes and view them in person when possible.
3. Make An Offer & Acquire Financing: Once you’ve selected a home that meets all your requirements, it’s time to make an offer on the property and secure financing from your lender if necessary (this is usually done through mortgages). If accepted, move forward with inspections and other paperwork required by both seller & lender until the closing day arrives!
4. Finalize Closing Details: Before the closing day arrives, carefully review all associated documents regarding title insurance, liens/assessments levied against the property (if applicable), home warranty costs (if requested), etc., so that everything goes smoothly during the closing day itself without any hiccups or delays in funding being needed afterward due to oversights before closing up shop on this part of the transaction!

It is not necessary to have a realtor when buying a house. However, working with a professional and experienced realtor can be beneficial in the long run. A real estate agent can help you find homes in your area that meet your needs and budget, provide information about local markets, guide you through the negotiation process, and ensure paperwork is managed properly. Having a reliable source for comprehensive advice can make all the difference in making sure the purchase experience goes smoothly. Additionally, an experienced agent will know any hidden risks that could come with buying certain houses or neighborhoods so you are fully aware before signing any contracts.

Hiring a local realtor can provide you with certain benefits that hiring a national realtor may not be able to offer.

The most important benefit is having access to an experienced and highly-qualified professional. Local realtors will have an intimate knowledge of the area, including all the nuances that come with it. They will be familiar with the neighborhood, know about local schools and services, as well as carry out a market analysis on your behalf in order to determine what kind of offer you should make on your desired property. In addition, they’ll have better negotiation skills when it comes to working with your financial institution or any other party involved in the process – something that may be lost when dealing with a national firm from many miles away.

Purchasing a home can be a great investment, one that can have both short-term and long-term benefits. In the short term, you benefit from locking in your monthly housing costs with a fixed mortgage payment instead of potentially increasing rent payments. When it comes to long-term benefits, owning a home can help build equity over time if property values increase. You also gain the ability to customize or remodel your house as needed without having to worry about landlord approval. Additionally, buying a house has tax implications. You may be able to deduct any interest paid on mortgage loans and make gains when filing capital tax returns on profit from the sale of your property in the future. It is important to look at all aspects of renting versus purchasing before making a decision – such things as location, budget, lifestyle needs, and family goals should all be taken into consideration when deciding whether buying or renting is right for you.

Thank you to Pierpoint Mortgage for sharing this valuable information on renting versus buying!

On average, homeowners live in a house for 8 to 13 years before selling the house or trading it up. This number varies based on individual motivations and financial means, as well as external factors like market conditions.

For example, some people may want to move quickly if they have new job opportunities in another city or are looking to downsize for retirement. Others may be motivated by increasing home values as the neighborhood appreciates and choose to capitalize on their equity investments by cashing out of a sale. A seller’s finances will also dictate how long they can stay in a certain residence – someone with limited resources may need to sell after only 5-7 years regardless of their preference in order to make ends meet.

A class action rebate is a type of legal settlement whereby members of a large group, or “class”, who have all suffered some sort of harm stemming from the same issue are compensated for their losses. These types of settlements provide a convenient way for those victimized by an identical event to receive compensation that would ordinarily be difficult and costly to achieve on one’s own in court.

Class action rebates are generally secured when members of the class can present evidence that shows they were harmed by the same source or act. Generally, this involves proving that everyone was similarly affected and should be entitled to similar restitution. After determining that each claimant has at least some level of commonality among them with regard to the incident, all impacted parties agree to resolve the claim through collective bargaining in exchange for formal recognition and financial compensation from the party responsible for harming them.

The mansion tax, sometimes known as a luxury tax, is an additional property tax imposed on homes with high market value. It’s designed to generate revenue from those who can afford it most and help fund public services like education and healthcare. Avoiding mansion tax typically requires careful financial planning, an understanding of local taxation laws, and a commitment to staying up-to-date with changes in legislation.

Call us TODAY to see how you can avoid mansion tax!

Buying a new home is an exciting step in life that comes with many benefits. For starters, when you buy a new build home, you’re getting a property that has been built to the highest of modern standards and often includes energy-efficient features. Having all of these features from the outset can help future-proof your house and dramatically reduce your utility bills.

Another benefit of buying a brand new home is the convenience factor. Since it will have never before been lived in, it’s easier to start fresh without having to worry about any major repairs or renovations. Additionally, many developers provide warranties for certain aspects such as boiler systems, so if there are any issues with your property within this timeframe then they will be remedied free of charge.

A realtor is an individual who is licensed and trained in the business of buying or selling real estate. They are experts in the local housing market, understand current trends, and have access to a wide variety of resources to help ensure you get the best possible outcome when it comes to buying or selling a home.

When hiring a realtor, you can expect them to provide several key services depending on what type of transaction you’re engaging in. For Buyers, will typically search for properties that meet your specific requirements, educate you about market conditions across potential areas for purchase, negotiate with sellers for favorable terms on behalf of their clients, and handle additional paperwork such as financing forms or closing contracts. For sellers, may also help prepare your home for sale by staging it effectively with minor aesthetic improvements as well as marketing it through various channels including website postings and open houses.

Hiring a realtor can be beneficial because navigating the process of purchasing or selling property without one can be overwhelming due to its complexity and time-consuming nature. Realtors are experienced professionals who know how best to negotiate terms with lenders/buyers/sellers so that each party finds satisfaction at the conclusion of the settlement process. Furthermore, their expertise allows them to spot potential issues related to title transfer disputes as well as advise price strategy based upon factors like local market activity so that maximum profit is achieved during sale periods (for buyers this means receiving fair value).