Key Street Realty Closing Cost Credit Terms and Conditions
Key Street Realty herein after shall be referred to as “Broker.” The Buyer’s Agent Commission is paid in the form of a Closing Cost Credit and is subject to a minimum Broker Commission of $7,500.00. The Buyer’s Closing Cost Credit is the lesser of either A) an amount up to a maximum of 50% of Broker compensation, or B) Broker compensation, less $7,500.00 minimum Broker commission retained by Broker. Broker compensation may change during the normal course of the escrow period; therefore, the closing cost credit may change and is not guaranteed. Broker makes no warranties as to the exact amount of Buyer’s Closing Cost Credit that Buyer may receive. Buyer’s Closing Cost Credit shall be applied at close of escrow as a credit to buyer, any remainder shall be retained by Broker. Under no circumstance shall Buyer receive a reimbursement, payment, rebate, refund, or cash-back from Broker outside of escrow for the closing cost credit.
If Buyer is obtaining a mortgage loan to complete the purchase transaction, then Lender restrictions may limit, or Lender may prohibit, any Buyer’s Closing Cost Credit the Buyer may receive from Broker. Broker cannot guarantee Lenders will allow, permit, consent to, or approve of Buyer’s Closing Cost Credit. In which case, Broker shall not be under any obligation to provide Buyer with a closing cost credit.
If Buyer is purchasing new home construction, then Buyer’s Closing Cost Credit may be limited, or prohibited by builder/seller. If builder/seller limits, or prohibits, Buyer’s Closing Cost Credit, then Broker shall not be under any obligation to provide Buyer with a closing cost credit.
Geographic restrictions apply. Broker’s primary area of service are the following California counties: San Bernardino, Riverside, Orange, and Los Angeles. Additionally, Broker does not serve each county in its entirety.
To be eligible for Closing Cost Credit, Buyer must be purchasing a primary residence and occupy the subject property within 30-days of closing escrow.
Broker may make changes to the Closing Cost Credit Terms and Conditions at any time, including canceling of the Buyer’s Closing Cost Credit without prior notice. However, Broker will honor all Closing Cost Credit agreements in progress at the time of the changes to the Terms and Conditions. Void where prohibited by law.