NOTICE / ACKNOWLEDGMENT

Buying & Selling a home can be confusing. JoTipton Mortgage & Realty would like your experience, for the entire process, to go as smoothly as possible.  Since establishing mutual expectations is an important step, our rebates are subject to the terms and conditions that follow.

Actual EarnedEquity Rebate may vary!

General

  • Any reference to Jo Tipton Realty Services Inc. including all Real Estate & Mortgage brokerage services will be refer to as the acronym JTRS;

  • Pre-Approval and signed Buyers agreements are required before any property showings; ______

  • Rebate can only be provided when you complete a property purchase (closing and funding of specified property) and originate your mortgage using JTRS acting as buyer's agent only; ______

  • Client represents and warrants that he/she is over the age of majority, legally competent to make this agreement, and a bona fide buyer of real estate who is not a party to an exclusive brokerage service agreement with any other real estate broker or firm;

  • Client understands not to attempt to enter the property or speak with an owner/seller without an appointment set by JTRS. Nor can client of broker contact listing agent of property;

  • Client must be a prospective purchaser of real property in the specific areas where JTRS operates;

  • Website users that holds any type of mortgage or real estate license, including, but not limited to a brokers, associate brokers, loan officer or salespersons license must advise JTRS by telephone, facsimile, e-mail before that User may access any password protected material including house listing data or other data compilations. JTRS reserves the right to deny or terminate access to any Real Estate Agent at its discretion;

  • There may be tax consequences to any rebate. You should consult with the appropriate professional if you need legal or tax advice;

  • When other parties to your transaction may not be able to attend closing or if any problem arises that would detain funding, the rebate will be paid after funding by check rather than delay the process;

Real Estate

  • Client agrees to immediately notify JTRS in the event that the Client enters into agreement with another broker. If buyer does not disclose that they are working with, and are under contract with another Realtor/Broker and purchase is made while under such, then buyer is liable and will act accordingly to compensate Jo Tipton Realty Services, Inc. 3% of contract sales price or funded amount, whichever is greatest;

  • Prospective buyer must agree to terms of Buyer's Agreement with signature of acceptance; ______

  • Client agrees that Broker may also represent other prospective buyers seeking to purchase the same properties that meet Client's criteria;

  • Client agrees to limit searches for houses or properties within their anticipated purchase ability or price range. When conducting a search for available properties for sale or rent, client agrees to enter property search criteria (such as price range, location, and other features) that are a good faith representation of the types of properties that they are interested in, and financially capable of acquiring or leasing;______

  • Client understands that JTRS will limit the number of properties displayed to me in response to my search requests based upon JTRS's sole determination of the reasonable number of properties appropriate to be displayed, and other "reasonable use" restrictions deemed appropriate by JTRS; ______

For Buyers

  • Jo Tipton Mortgage & Realty, Inc. ("Jo Tipton Mortgage & Realty") must act as Mortgage and Real Estate Broker in same sales transaction.

  • JTRS can act as buyers agent or a disclosed intermediary

  • Rebate will be up to $1,500 when you buy & mortgage through JTRS.

  • We will rebate up to $1,500 when JTRS receives minimum compensation of 3% of the contract sales price of the property from the listing broker.

  • In the event JTRS receives less than 3%, the rebate amount will be decided by the JTRS Broker and communicated to the property buyer prior to the submission of an offer to purchase.

  • For properties with a final sales price of $100,000.00 or more, the Buyer's Rebate or fee actually received by JTRS at the close of escrow/settlement for representing the buyer, up to $1500. For properties with a final sales price between $80,000.00 and $99,999.99, the Buyer's Rebate is $400.00.

  • No rebate is offered for properties with a final sales price under $80,000.00.

  • The amount of cooperating broker commission or fee received will vary on individual properties so the actual rebate may be less. Actual rebate amount could be less than those listed above. Rebate is available only to buyers who close escrow/proceed to final settlement with JTRS, Inc. ("JTRS") acting as their sole and exclusive agent in the purchase of real estate and mortgage origination; ______

New Construction Rebate Terms

Below are the terms of the New Construction rebate in the event you elect to purchase a new home directly from a builder/developer. JTRS fully discloses the availability of a rebate.

  • Same Requirements as buyer above.

  • Compensation. In the event that JTRS refers and registers you as a buyer with a builder/developer, the builder/developer will often pay JTRS a referral, cooperating broker, finder's fee, or other type of compensation at close of escrow/final settlement. The exact amount of compensation received by JTRS will vary based on the particular builder/developer. Be advised, many builders/developers require that an agent must personally accompany a prospective buyer to the development on the buyer's first visit for the agent to be entitled to receive any compensation;

  • Rebate: In the event that you complete the purchase of new home in which JTRS referred and registered you with the builder/developer, JTRS shall issue you a rebate calculated as follows: For properties with a final sale price of $100,000.00 or more, the rebate will be up to $1,500 for referral, cooperating broker, or finder's fee, or other type of compensation actually received by JTRS at close of escrow/final settlement  of the final sale price of the property; or for properties with a final sales price between $79,000.00 and $99,999.99, the rebate will be $400.00. For properties with the final sales price less than $79,000.00, no rebate is offered.   If compensation is less than 3%, the rebate amount will be decided on by Jo Tipton Mortgage and Realty and will be communicated to the property buyer prior to the submission of an offer to purchase.  In the event that the builder does not pay any compensation to Broker, whether caused by buyer or builder not participating in referral or acting as co-op in transaction (paying a fee to another Broker) then buyer will be liable for amount of 3% of total sales price or contract price achieved at closing;

Mortgage

  • Must be approved by a lender. If you have questions about the types of loans that, in conjunction with the rebate, may concern lenders, please contact JTRS; ______

  • All JTRS lenders offer loans with varying interest rates and associated points ranging from 0% to 3%. You will receive from JTRS a Good Faith Estimate of the closing costs for the loan product you select. In most instances, JTRS may act as a mortgage broker, for compensation ranging from 0 to 3% of loan amount;

  • Client understands that Jo Tipton Realty Services, Inc. (JTRS) has a business relationship with many different lenders.  Because of this relationship JTRS may receive financial benefits as the result of this referral;

Legal

  • JTRS fully discloses the availability of a rebate. When we are representing the purchaser as a buyer client, we will disclose the rebate to the seller. Seller must approve of buyer's rebate from Jo Tipton Mortgage & Realty in writing for buyer to fully receive rebate;

  • Client agrees to defend, indemnify, and hold harmless JTRS from any damages, costs, and expenses, including attorneys fees and litigation costs and expenses at trial or on appeal, arising from any claim by a third party based upon my use or display of the Site Materials;

  • Client agrees that this Terms Of Use Agreement shall be governed by the laws of the State of Texas applicable to contracts made and performed entirely in the State. Any suit brought by either Party to enforce the terms and conditions of this Terms Of Use Agreement shall be brought in the state or federal courts that have jurisdiction over the City of Dallas, Texas. I agree not to contest the personal jurisdiction of such courts. If JTRS prevails in any suit against me to enforce its rights under this Terms of Use Agreement, Client agrees that the Court may enter an award on behalf of JTRS and against me for JTRS's reasonable attorney's fees, costs, and litigation expenses associated with such suit, or the appeal of any judgment or award rendered on behalf of JTRS;

  • Client represents and warrants that he/she has not signed any agreement with a real estate agent or agency that would prevent the client from using JTRS as his or her sole and exclusive agent. Client does not have a contract or agreement with another real estate agent or agency such as a listing agreement or a buyer broker agreement; ______

  • Client understands that JTRS has not entered into any form of fiduciary or brokerage relationship with client solely by use of materials available on the JTRS website. Any form of fiduciary or brokerage relationship between JTRS and client shall not exist unless and until an JTRS agent shows property available for sale or lease, or requests a JTRS agent assist in procuring a real estate sales, mortgage origination, or lease contract on terms acceptable to me for the purchase, rental, or sale of a parcel of real estate;

  • Client understands that at such time a JTRS agent shows client property available for sale or lease, or client requests a JTRS agent to assist in arranging a real estate and mortgage transaction, to which client is a party, Client will be entering into a brokerage relationship with JTRS in which JTRS will be assuming certain duties and obligations relating to the services it will be rendering during the course of that relationship. A JTRS agent will disclose to the client the nature and extent of those duties and obligations no later than at the time a client enters into a brokerage relationship with JTRS;

  • JTRS reserves the right to terminate user and/or Client access to the Website and/or cease doing business with any person who uses profanity, obscenity, vulgarity or offensive, threatening, unlawful, harmful, harassing, tortuous, defamatory, libelous, invasive, hateful, abusive or otherwise objectionable language, behavior or conduct in any manner towards any JTRS employee, agent, contractor or customer, on the Website, in emails, in telephone conversations or messages, in writing, or in person. Additionally, JTRS reserves the right to refuse to do business with any person in JTRS's discretion, consistent with local, state and federal fair housing and other laws;

  • Neither JTRS nor any of its officers, directors, investors, employees, contractors, agents, successors, assigns, affiliates, or content or service providers shall be liable to Client, User or any other third party for any direct, indirect, incidental, special, punitive or consequential damages arising out of the use of this service or inability to gain access to or use this service or out of any breach of any warranty, even if JTRS has been advised of the possibility of such damages;

  • JTRS disclaims any and all warranties, including, but not limited to: (1) any warranties concerning the availability, accuracy, usefulness, or content of or uninterrupted access to information, products or services and (2) any warranties of title, non-infringement, merchantability or fitness for a particular purpose. This disclaimer of liability applies to any damages or injury caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft, or destruction or unauthorized access or, alteration of or use of record in connection with the use or operation of this service, whether for breach of contract, tortuous behavior, negligence or any other cause of action(3) the ability, quality or reliability of any third party service provider accessed through or in conjunction with the use of this service;

  • JTRS will not discontinue the rebate 'without notice' after our client has signed a buyer broker agreement;

Definitions of Terms

  • "Closing Cost Estimate" includes miscellaneous closing costs, other than brokerage commission's, using 1% of the selling price of the property to estimate those costs. Actual amount may vary

  • "Agent" or "Real Estate Agent" means a real estate broker, agent, or similar state licensed real estate professional.

  • "Buyer" or "Home Buyer" means a person who is buying or considering purchasing a property.

  • "Seller" or "Home Seller" means a person who is selling or considering the sale of a property.

  • "Client" is a User that has completed the registration process and has agreed to these Terms of Use.

  • "Prospective Purchaser or Seller" is an individual that expressed an immediate and genuine interest in the sale or purchase of real property.

  • "User" means a person who is either a Buyer or a Seller who accesses the Website and otherwise utilizes the services of JoTipton Mortgage & Realty.

  • "Website" means the JoTipton Mortgage & Realty Internet website currently located at the URL address www.JoTipton.com

All offers are subject to conditions, limitations, exclusions, modifications, and/or discontinuation without notice. Jo Tipton Mortgage & Realty, Inc. ("Jo Tipton Mortgage & Realty") must act as Mortgage and Real Estate Broker in same sales transaction. EarnedEquity Rebate will be up to $1,500. When you buy through JTRS we will rebate up to $1,500 when JTRS receives minimum compensation of 3% of the contract sales price of the property from the listing broker. In the event JTRS receives less than 3%, the rebate amount will be decided by the JTRS Broker and communicated to the property buyer prior to the submission of an offer to purchase.  For properties with a final sales price of $100,000.00 or more, the Buyer's EarnedEquity Rebate actually received by JTRS at the close of escrow/settlement for representing the buyer, up to $1,500. For properties with a final sales price between $80,000.00 and $99,999.99, the Buyer's Rebate is $400.00. No rebate is offered for properties with a final sales price under $80,000.00. The amount of cooperating broker commission or fee received will vary on individual properties so the actual rebate may be less than $1,500. Actual rebate amount could be less than those listed above. EarnedEquity Rebate is available only to buyers who close escrow/proceed to final settlement with JTRS, Inc. ("JTRS") acting as their sole and exclusive agent in the purchase of real estate and mortgage origination.