We have tried our hardest to keep the terms, conditions and limitations to a minimum, and most limitations involve lenders and the particular loan program you are using. The rebate is limited as described below.

• If you have signed a Buyer/Broker Agreement with another real estate broker, we are unable to help you as you have entered into a contractual relationship with that broker. If you terminate your agreement or if it expires, we will be happy to assist you and provide you the rebate.
• The amount of the cooperating broker commission received by Hardy and Company can vary on individual properties. If the seller is offering less than 3%, your rebate may be less than you previously expected. We will inform you of the cooperating commission rate and what your rebate amount will be at the time you ask us to represent you on a particular property.
• Your lender’s participation is a must, so please discuss the rebate with your lender so you understand what they will or will not allow (most lenders are OK with you receiving a rebate – we structure the rebate under the latest Fannie Mae guidelines).
• Most lenders require that the rebate be first applied to applied to closing costs and pre-paids first (as a Financing Concession[s]).  If a portion of your rebate exceeds the closing costs and pre-paids. If the full amount of the commission rebate is not consumed by the Financing Concession(s), Hardy & Co. will provide the remainder of the rebate through a Sales Concession.
• Sales concessions are deducted from the sales price. If the commission rebate due to the Buyer exceeds what is allowable as a Financing Concession, the Seller must agree to reduce the Purchase Price of the property by an amount equal to the remaining commission rebate Hardy & Co. has agreed to provide to Buyer.  Hardy and Company agrees to also reduce the commission it is due by an amount equal to the reduction in the Purchase Price.  The net effect is that the Seller’s proceeds are not reduced. We stipulate this condition in the purchase agreement that is presented to the Seller.
• This rebate program is only available where permitted under state and federal law. Federal and State Law do allow for you to receive a rebate in New Mexico.
• The Commission Rebate is available only to a buyer who closes a property where Hardy and Company, LLC has acted as the buyer’s sole and exclusive agent in the purchase of real estate.
• When a rebate is paid, the rebate will only be paid or credited to the party or parties named as the “buyer(s)” or “borrower(s)” on the HUD-1 Closing Statement or an equivalent official closing statement.
• There may be tax consequences related to receiving a rebate, so please consult your tax adviser, we can not and do not provide tax advice.
• The offer of a rebate is subject to regulations, conditions, limitations, exclusions, modifications, and/or discontinuation without notice.

Yes, this is a must.  We always recommend that you notify your lender of the rebate early in the transaction. Lenders deal with rebates differently and we need to coordinate the rebate with your lender prior closing.

We are not tax a tax adviser and can not provide you with advice relating to your taxes.

That being said, the IRS stated in private letter ruling # 200721013 that rebates are not treated as taxable income, but rather a reduction to the price of the home. This is similar to how rebates on an automobile purchase is treated. We take the view that the rebate is indeed a reduction in your cost basis and because of this we will not send you a tax document at the end of the year that shows the rebate.

Since private letter rulings are only for the benefit of the party who petitions the ruling, there still could be a question about the treatment of the rebate. So, again we suggest that you check with your tax adviser.

Yes, we work with the escrow officer at the title company and your lender from the beginning of the transaction to make sure that your rebate is accounted for properly.

Yes, absolutely! We offer you a rebate not because we reduce the quality of service, but because we give you the choice of how much help you want and need. You will receive the very same level of service you would from a traditional broker. We even go so far as to say you’ll receive better service. Here is why:

• In our business, we concentrate on providing Professional Services to our clients
• We are very tech savvy – this allows us to keep you fully involved in the transaction by delivering documents and information in the most efficient manner possible.
• We do real estate day in and day out – this is our full time business.  Statistics suggest that up to 95% of real estate brokers don’t don’t do enough business to be considered full time practitioners. This really is a business where experience matters and you have to be involved in it full time to keep up with all the changes.
• We are creative problem solvers and have been involved in hundreds of transactions from the simple to complex.

Times have changed.

We remain profitable by eliminating the excess overhead associated with a traditional real estate brokerage and concentrate on getting paid for the professional services we provide, not ancillary services that add little value to the buying process.

We offer our Commission Rebate Program throughout the entire state of New Mexico.