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The rebate (“Rebate”) is only available to buyers who close escrow with Uwin Realty Group acting as their exclusive broker/agent in the purchase of real estate. The Rebate amount is calculated as follows: Homes with a purchase price below $99,999 buyer receives NO REBATE, $100,000 - $150,000 buyer receives $250 (“Two Hundred Fifty Dollars”), $150,001 - $250,000 buyer receive $400 (“Four Hundred Dollars”), $250,001 - $350,000 buyer receive $600 (“Six Hundred Dollars”), $350,001 - Above buyer receive $1,000 (“One Thousand Dollars”) from the commission received by Uwin Realty Group from the cooperating Listing Broker at the close of escrow. The total commission amount paid to Uwin Realty Group by the Listing Broker will/can vary on each real property.
The Rebate is either issued as a credit through closing or paid as a check after close of escrow. If paid by check, the Rebate will be paid to the order of the person(s) named as the buyer(s) or borrower(s) on the HUD-1 Closing Statement or equivalent statement (including, in the case of a Section 1031 Exchange, to the order of any qualified intermediary who is named as the buyer or borrower on the closing statement, for the benefit of the Section 1031 Buyer). If paid as a closing credit, the Rebate will be paid on behalf of such person(s). As used herein, (i) "Section 1031 Exchange" means an exchange of real estate pursuant to Section 1031 of the Internal Revenue Code, as amended from time to time, and (ii) "Section 1031 Buyer" means the person conducting a Section 1031 Exchange through a qualified intermediary who will receive replacement property in such exchange.
Uwin Realty Group has no obligation to pay the Rebate unless and until (i) all of the buyer(s) sign any agreement reasonably requested by Uwin Realty Group confirming the Rebate, and (ii) in the case of a Section 1031 Exchange in which the qualified intermediary is listed as the buyer or borrower in the closing statement, the Section 1031 Buyer also signs such an agreement. This rebate program is only available where permitted under state and federal law and when not otherwise prohibited by the buyer's lender(s).
Notwithstanding the foregoing, if at any time Uwin Realty Group reasonably determines that a Commission Dispute exists or is reasonably likely to occur, then Uwin Realty Group may delay paying the Rebate until 14 days after such Commission Dispute has been Resolved. If Uwin Realty Group pays any Rebate and it is later determined that Uwin Realty Group is not entitled to all or part of the commission on which such Rebate was calculated, then the Rebate amount will be recalculated and the buyer(s) will immediately repay to or at the order of Uwin Realty Group the excess portion, if any, of the Rebate that Uwin Realty Group paid.
A Rebate may have tax implications. Uwin Realty Group recommends that buyer(s) consult with a tax advisor regarding this. To the extent, if any, that Uwin Realty Group determines that the filing of any tax return (including any Form 1099 or other information return) is necessary or prudent in connection with any Rebate, Uwin Realty Group may make such filing.
Uwin Realty Group rebate program (and obligation to pay the Rebate) is subject to discontinuation or modification by Uwin Realty Group at any time. However, Uwin Realty Group will not modify a buyer's Rebate with respect to any specific property after the buyer has made an offer on that property.
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