The Home Buyer Rebate, also referred to as a Commission Rebate, is applied directly toward your closing costs. This means less cash that you need to bring to closing!
The state of NJ allows brokerages to provide a rebate to their clients, but not all companies are willing to. Our company is happy to offer it to our clients to help make home buying more achievable.
Consult a tax professional concerning any tax implications of receiving the buyer rebate in NJ.
It is the purchaser's obligation to pay any applicable taxes.