Rebate Equity Rewards


Residents Can Earn RebateEquity Rewards Toward The Purchase of a New Home

Our RebateEquity Program is designed to assist our residents with the transition to home ownership. The assistance we offer is twofold: First, you have access to full-service representation by state licensed real estate associates who have the necessary experience in your area. Secondly, as a valued customer, you will receive non-cash credits toward the purchase of a new home or condominium. This rebate comes in the form of a commission reduction paid to RebateRentals.com Realty, Inc. from the seller or the builder. This seller savings is then passed onto the buyer as credits toward either a reduction off the purchase price, builder options and upgrades, or closing costs. Please note that RebateEquity credits effectively translate into discounts given from the builder or seller to the buyer and cannot be used as a down payment. Credits cannot exceed the maximum percentage of the purchase price as promulgated by your lender or up to 3% whichever is less.

Residents that are planning to make a purchase decision can earn RebateEquity worth approximately 3% to 6% of your base monthly rental payment in the form of a non-cash rebate off the purchase price, builder options and upgrades, or closing costs. Your actual percentage varies by market, length of residency, and base lease amount. Your RebateEquity is redeemable toward the purchase of a new home built by any of our Participating Builders in North Florida or the purchase of a resale from our participating real estate broker network.

Approximately 60 days before your lease expires, visit one of our offices or contact your Rebate Rentals Agent to find out how much RebateEquity credits you have earned to date and prepare your RebateEquity Certificate for your reference. Ask your Rebate Rentals Agent to provide you with a market survey of what is for sale in your indicated price range. As a licensed real estate agent, your Rebate Rentals Agent will go over a number of options to consider during the research phase of your home purchase.

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How the RebateEquity Program Works

When a seller contracts with a listing broker to help sell their home, they negotiate the amount of the commission the seller will pay to both the listing broker and the buyers' broker. For new home builders, a certain amount of marketing dollars are set aside to compensation buyer's brokers for the time and expense of consulting new home buyers through the lengthy home buying process.

The amount of the Rebate we offeris affected by the commission rate, if any, paid to RebateRentals.com Realty, Inc. by a given new home builder and/or listing broker.

The rebate offered is dependent on the actual lease term served; with a minimum and maximum rebate range between 5% and 50% of the total commission earned less a $295 administrative fee, if any, that RebateRentals.com Realty, Inc. actually receives from a given new home builder and/or listing broker in connection with a purchase.

For example, if a seller agrees to pay a negotiated commission of 5.5% on a $250,000 home, the total sales commission in this example would be $13,750. If the commission is to be distributed evenly between the listing broker and RebateRentals.com Realty, Inc. as your buyer's broker, our estimated earned commission would be $6,875.

From our estimated earned broker commission of $6,875, you would be entitled to 5% to as much as 50% of our actual commission earned less a nominal administration fee of $295 depending on the length of your lease term.

With the $250,000 purchase example discussed above, a 24-month lease term qualifies for a 20% rebate on our earned commission whereby the math would be $1,375 less $295 admin expense, equates to a RebateEquity credit of $1,080 toward your purchase. With a typical rental range from $995 to $2,100 per month, this equates to a rebate percentage of approximately 2.1% to 4.5% of your monthly rent over a two year lease period.

There is no maximum sales price against our indicated rebate percentage. If the seller pays us a commission, we will rebate at least 5% to as much as 50% of that commission amount back to you in the form of a credit towards the purchase price, builder options and upgrades, or closing costs where permitted, as our valued customer, less a nominal administration expense of $295. Your monthly rebate credit is limited to 50% of our prospective commission earned less $295 at month 60 of your lease term.

Now that's putting your "Rent to Work".

As a valued Tenant, your RebateEquity may be applied to the purchase price, additional options and upgrades, or credit toward closing costs as promulgated by your lender and where allowed by law.

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RebateEquity Guidelines

For RebateRentals.com Realty, Inc. to receive a broker commission - and for you to receive RebateEquity – it should be made clear that RebateRentals.com Realty, Inc. is representing you as your broker. The following steps will help us assist you with your RebateEquity Rewards.

  • Visit your Rebate Rentals Agent to have a RebateEquity Certificate prepared before going to a new home builder model, listing appointment, or open house.
  • Provide your RebateEquity Certificate to the selling agent representing the seller or builder and inform him or her that RebateRentals.com Realty Inc. is your broker.
  • Contact your Rebate Rentals Agent to schedule appointments to see homes that are on your interest list.
  • When you are ready to make an offer, leverage your Rebate Rentals Agent's knowledge to assisting you with constructing the offer and presenting it to the seller's broker.
  • Please note that we cannot represent you in the purchase of a property, if you have previously agreed to work with another broker on a specific home purchase.
  • RebateRentals.com Realty, Inc. will present your RebateEquity Rewards credit as either a reduction of the purchase price, builder options and upgrades, or as a credit against closing costs at the closing table.
  • Please note that RebateEquity terms are subject to change without notice.
  • RebateEquity is not a rent reduction program nor should be interpreted as such. RebateEquity Rewards do not represent a savings plan nor a cash rebate on rent paid.
  • This program represents a real estate broker rebate against commission earned that can only be applied toward the purchase of a new home built by a participating builder or the purchase of a resale of an existing home represented by a participating listing broker.
  • See program "Terms and Restrictions" below for more information.
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Terms and Restrictions

  • Every resident is automatically eligible to participate in the program.
  • Enrollment is free - there are no resident enrollment fees.
  • A minimum length of residency is required.
  • As promulgated by state statue, we will ask that you review and acknowledge by signature the "Information About Brokerage Services" disclosure.
  • Roommates can earn the same Rebate Equity as a single occupant so long as each enter into a separate purchase agreement and whereby RebateRentals.com Realty, Inc. is compensated as a procuring broker.
  • Rebate Equity will transfer with the resident and continue to accrue if you move to any RebateRentals.com Realty Inc. community in our managed network as long as there is no more than 120 days' lapse between lease dates.
  • Rebate Equity rewards cannot be transferred to another individual.
  • Residents must be in good standing. Residents must be current with their financial obligations to RebateRentals.com Realty Inc., their Landlord, and must follow the proper procedures and covenants for terminating their lease, whether it is at lease-end or mid-lease.
  • Rebate Equity Rewards can be used in conjunction with other Participating Seller and Builder offers. However, some restrictions due apply due to lending regulations.
  • Residents cannot use the services of another real estate broker or they will be ineligible to participate in the Program.
  • Our Rebate Equity Certificate must be given to Participating Seller or Builder prior to signing the purchase agreement for your new home.
  • Resident stops earning Rebate Equity Rewards once a purchase agreement is signed.
  • Once the purchase agreement is signed, no additional Rebate Equity Rewards can be accrued or added to the purchase.
  • A resident can only redeem one Rebate Equity Certificate per home purchase.
  • Rebate Equity must be used within 120 days from the date that a resident moves out of a RebateRentals.com Realty Inc. managed property.
  • The amount of the Rebate is affected by the commission rate, if any, paid to RebateRentals.com Realty, Inc. by a given new home builder and/or listing broker.
  • The rebate offered will be between 5% to 50%, less a nominal $295 administration fee , of the total commission earned, if any, that RebateRentals.com Realty, Inc. actually receives from a given new home builder and/or listing broker in connection with a purchase.
  • RebateRentals.com Realty Inc. makes no representations or warranties with respect to the actions of any participating builder or listing broker, nor the quality of home purchased by either entity.
  • The Rebate Equity Rewards program may be changed or canceled at any time without notice.
  • The Rebate Equity Rewards program is void where prohibited by law or if prohibited by the buyer's lender(s).
  • In some states, the rebate must be taken as a closing credit.
  • Participating Builders, accrual percentages and maximum discount percentages vary by market. For any questions, please speak with your Rebate Rentals Agent for information about the program in your area.
  • Your rebate may have tax implications. It is advised to consult with a tax advisor regarding your rebate credit. To the extent, if any, that RebateRentals.com Realty, Inc. determines that the filing of any tax form (including Form 1099 or other information return) is necessary or prudent in connection with your rebate, RebateRentals.com Realty, Inc. reserves the right to make such filing.
  • Rebate void where prohibited by law, and subject to terms and conditions.

For additional information about Rebate Equity Rewards, call us at: (904) 281-2100.

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Residents Can Earn RebateEquity Rewards Toward The Purchase of a New Home

The assistance we offer is twofold: First, you have access to full-service representation by state licensed real estate associates who have the necessary experience in your area. Secondly, as a valued customer, you will receive non-cash credits toward the purchase of a new home or condominium. This rebate comes from the commission paid to RebateRentals.com Realty, Inc. from the seller or the builder.

Definitions

Home Purchase Price
Purchase price of your home.

Lease Term
The number of months that you will be renting under this program.

Monthly Rent
Your monthly rent.

Broker Commission
The percentage of your homes purchase price that is paid to the broker of the home sale. You will receive a portion of this fee when you purchase a house as your Rebate Equity.

Monthly Savings
Total Rebate Equity divided by the number of months that you rent.

Resident
A Tenant that is in an active lease for a property that is currently managed by RebateRentals.com Realty, Inc.

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