Rule of Cash Back Rebate
Cash back is a rebate available only to buyers who close escrow/proceed to final settlement with UR/PRO OF ARIZONA acting as their sole and exclusive agent in the purchase of Property. For Property with a final sales price of $ 99,000.00 or more, the rebate is up to twenty Five percent (25%), of the cooperating broker commission actually received by UR/PRO OF ARIZONA at the close of escrow/settlement for representing the buyer net of any allowances or other deductions by UR/PRO OF ARIZONA related to the transaction. The amount of the cooperating broker commission received will vary on individual properties. Occasionally, the seller and/or listing broker or home builder in a transaction will offer the broker representing the buyer a bonus or other additional incentive over and above the cooperating brokerage commission. Any such bonuses or other additional incentives are separate and apart from the cooperating brokerage commission actually received by UR/PRO OF ARIZONA and buyer is not entitled to a rebate on any bonus or other additional incentive monies paid to UR/PRO OF ARIZONA over and above the cooperative broker commission. For Properties with a final sales price of $99,000.00 or less, UR/PRO OF ARIZONA will not pay a rebate. If a rebate is paid, the rebate will be paid or credited to the party or parties named as the "buyer(s)" or "borrower(s)" on the HUD-1 Closing Statement or equivalent official closing statement. In the case of an IRC §1031 Tax Deferred Exchange ("Exchange"), the party named as the "buyer or borrower" is the Qualified Intermediary (the "Exchange Company") and the rebate will be paid or credited to the Exchange Company for the benefit of the party conducting the exchange (the "Exchanger"). All buyers, or in the case of any Exchange, the Exchanger must sign this Rebate Agreement before any rebate will be issued. This rebate program is only available in the state of Arizona where offered by UR/PRO OF ARIZONA and is permitted under state and federal law, when not otherwise prohibited by the buyer's lender(s) or builder, and when it is listed on the HUD-1 or other official closing document. There may be tax consequences to the rebate. If you need legal or tax advice, you should consult with the appropriate professional. Offer subject to conditions, limitations, exclusions, modifications, and/or discontinuation without notice. The Rebate must be disclosed on the HUD-1 and other official closing document at the time of close of escrow.
