VIP Realty Buyer’s Rebate Program Terms and Conditions
1. The cash back rebate is available only to buyers who close escrow/proceed to final settlement with VIP Realty acting as their sole and exclusive buyer’s agent in the purchase of real estate.
2. The Buyer Brokerage Agreement and this Terms and Conditions Form must be signed and returned before any rebate will be issued.
3. The rebate is conditional on selling broker receiving a minimum of 3% commission on the purchase of a home. No cash rebates are offered on home purchases less than 3% of commission.
4. Buyers will assist buyer’s agent in the home search by searching for available homes in their desired areas and requesting showings by buyer’s agent.
5. Buyer’s agent will only show up to 20 homes and buyer will receive a cash back rebate. After 20 homes shown, buyer will not be eligible to receive a rebate.
6. In the event of a referral fee or commission reduction required to be paid on the sale of a property reducing the amount of commission, the rebate will be reduced by the amount of the referral fee or commission.
7. The Cash Back Rebate is only available on homes purchased in the State of Texas.
8. No rebate is offered on home purchases of less than $250,000.
9. The buyer’s rebate must be fully disclosed to the buyer’s lender(s) and cannot be given if it is otherwise prohibited by the buyer’s lender(s). It is the buyer’s responsibility to verify that the lender(s) will allow you to receive a rebate.
10. The Rebate will only be paid to the party or parties named as the “Buyer(s)” or “Borrower(s)” on the Closing Disclosure, Closing Statement or equivalent official closing statement and cannot be distributed to a third party. Rebate can be in the form of a check issued by the title company or a credit to the buyer within the Closing Disclosure statement.
11. Buyer Brokerage Agreement must be for a minimum of 4 months.