Commission Rebate to Buyer?

flyingaggie12

Joined: Oct 16, 2010

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2:24p, 6/22/17

AG

I am an agent representing a Buyer and wanted to rebate a portion of my commission back to the buyer. What are the steps I need to take?

Thanks!

dallasiteinsa02

Joined: Aug 24, 2013

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2:41p, 6/22/17

It has to be noted on the HUD-1 so that their lender sees it and it has be approved by your broker, if you aren't one. The good news is that you don't have to send them a 1099 or pay taxes on it by not taking possession of it.

jja79

Joined: May 24, 2002

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In reply to dallasiteinsa02 • 3:07p, 6/22/17

AG

The HUD-1 was eliminated in 2015 but your point is valid. The lender will want to know about it and it will need to be documented.

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AggiePlaya

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3:14p, 6/22/17

AG

Find a brown envelope and put the cash in, and I'll take it from there

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coyote68

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3:49p, 6/24/17

You may want to hire a good defense attorney.