The following disclosures, terms, conditions, and restrictions apply to all Brundle options (except as expressly indicated below):
Brundle is only licensed to offer these discounted savings for real estate and mortgage transactions in California. Offer is only valid in counties and or cities where Brundle has local agents and/or a network of real estate agents available. Some program features and benefits may not be available in other towns, cities and/or counties in California.
- Customers must (a) enter into a purchase contract with a Brundle agent or approved partner agent and (b) close on said home pursuant to the listing agreement, buyers agent agreement, and/or residential purchase agreement, with the previously retained Brundle agent or approved partner agent. Offer void where Brundle approved partners are not available and partners may not be available in all markets. Brundle partner agents are not employees of Brundle.
- For Brundle offers, once the customer has entered into a purchase agreement facilitated by a Brundle agent or partner agent, the customer must lock a mortgage loan rate with Brundle. The mortgage for the purchase transaction must close with Brundle. Brundle mortgage approvals are subject to credit approval by Brundle and upon other applicable mortgage application terms and conditions. The Brundle real estate listing and the Brundle real estate selling discounts are not available without a Brundle mortgage.
- Minimum purchase price and loan amounts must fall within Brundle loan program guidelines to be eligible for the Brundle discounts. may not be available for certain loan programs based on cash back and other restrictions. Brundle discounts are not available for refinance transactions.
- Brundle discounts are calculated using the following calculations. For listing transactions Brundle’s discounted listing commission rate will be 1.5% of the final sales price. Brundle discounted selling agent commission rate will be 1.5% of the final sales price. Brundle discounted mortgage closing costs will be calculated by applying difference between MLS selling commission rate and 1.5% to the customers mortgage closing costs. If difference exceeds mortgage closing costs amount of remaining funds will be used to buy down the interest rate. No cash or cash equivalents can or will be distributed to customers. Customers’ use of Brundle network Realtors must be confirmed to Brundle’s satisfaction.
- Brundle discounts are subject to adjustments or cancellation if Brundle is required to share any portion of the real estate transaction commissions with parties other than the buyer’s agent and the seller’s agent, or if Brundle is otherwise prohibited by law or contract from reducing commissions or offering closing cost concessions. In some cases, parties to a purchase and/or sale transaction, or certain lenders financing a loan transaction, will not allow a buyer to receive closing cost credits and/or may otherwise restrict Brundle from offering agent commission discounts or mortgage closing cost credits. Customers should discuss the Brundle discount/s with all parties to a real estate transaction and with their lender regarding the program benefits. After entering into a real estate contract, customers must promptly advise Brundle of sales price changes or changes to participants in purchase and sale transactions (including, without limitation, changes in the buyer, seller, lender, or real estate agent). Such changes could affect customer eligibility for Brundle. Although you were not required to use a Brundle network agent or to close your loan with Brundle, as explained in these terms, the Brundle Offer is no longer valid if you do not use a Brundle network agent or if you do not use a Brundle mortgage to finance your home purchase.
- Offers cannot be retroactively applied to previously closed loans or loans already in process. Only one offer valid per transaction. Offer is non-transferable and may not be used with other discounts, promotions, or special pricing. Participation in the Brundle program is optional and is not required in order to obtain services from Brundle.
- Brundle has a business relationship with affiliated businesses that participate in the Brundle program. Each of these businesses may refer you to the services of another and each are owned directly or indirectly by The Turnkey Foundation Inc. Because of these relationships, the referral of a customer by any of the affiliated companies to another may provide the referring company, its parent companies, subsidiaries, and affiliates, and/or their employees, with a financial or other benefit. You are not required to use any of these service providers as a condition for the purchase, sale, or refinance of any subject property or to obtain access to any settlement service. There are frequently other settlement service providers available with similar services. You are free to shop around to determine that you are receiving the best service and the best rate. For more information, see affiliated business arrangement disclosures provided by Brundle and affiliates.
- The Offer may include products or services offered by third parties unaffiliated with Brundle or its affiliates. Neither Brundle nor its affiliates make any representation about the quality, fitness for use, or any other aspect of such goods or services, and neither Brundle nor its affiliates will be responsible for customers’ use or non-use of such products or services, or for any monthly, subscription, or other recurring charges and fees associated with such products or services.
- By accepting the Offer, you consent to the sharing of information about you—such as your name and contact information, and information about your relationship with Brundle and Brundle’s affiliates—sufficient to permit Brundle to acquire products and services on your behalf.
- Brundle reserves the right to rescind or modify the terms of the offer without prior notice.
Brundle Close On Time Guarantee – Important Terms and Conditions – Please Read
Choose Brundle agent or a Brundle network real estate agent and obtain a Brundle mortgage loan and Brundle will guarantee your loan will close on time. If the Brundle transaction does not close on time, Brundle will pay the borrower(s) (“Buyer”) and the seller(s) (“Seller”) each $1,000.
To be eligible for the Closing Guarantee, the terms and conditions described below apply (“Terms”).
- The Closing Guarantee is only available for Brundle transactions where the purchase contract has not been signed as of the date of the Buyer’s referral to Brundle.
- The Closing Guarantee is only valid for purchase of a property where Brundle is licensed to do business and is void where prohibited by law.
- Total potential payout under the Closing Guarantee is $1,000 to Buyer and $1,000 to Seller, regardless of the number of individual borrowers and sellers participating in the purchase transaction. Only the Buyer can make a claim against the Closing Guarantee.
- Buyer and Seller must enter into a standard purchase agreement with close of escrow date scheduled at least 30 days after signing the agreement and the completed RESPA/TRID application date, whichever is later. Both Buyer and Seller must agree to meet all contingencies within the contingency dates outlined within the contract. There can be no changes to the closing date once the purchase contract is signed and the closing date must not be prohibited by federal or state law (e.g., it must comply with all applicable waiting periods).
- The signed purchase contract must be provided to Brundle mortgage within 24 hours after execution (so that Brundle can promptly order an appraisal). Buyer must promptly provide an intent to proceed on the Buyer’s loan application and pay for appraisal and Sellers must allow the appraiser to inspect the property at the earliest date offered by appraiser. Brundle must receive the appraisal at least 10 days before the close of escrow date.
- Buyer must receive a pre-approval from Brundle and provide all required income and asset documentation to Brundle at least 7 days before entering into the purchase contract. Additionally, Buyer must provide Brundle all requested documents within 48 hours of Brundle’s request, and all documentation submitted to Brundle must be accurate and complete. Buyer must satisfy all underwriting requirements and loan conditions, and there must be no material changes to the Buyer’s application, employment status, credit status, or collateral from the date of pre-approval through closing, as determined by Brundle in its sole discretion.
- Buyer must qualify for a loan of at least 105% of the designated purchase amount of the subject property (e.g., if the subject property has a negotiated sales price of $300,000, the Buyer must qualify for a minimum of $315,000).
- The Closing Guarantee is only available for conventional, first lien, single-family Fannie Mae, Freddie Mac, FHA, and Veterans Affair purchase loans. Additional loan exclusions apply (see Section 14).
- No product changes or borrower additions are permitted during the purchase contract period.
- The property must not require any repairs, and the property sale must be identified as “as is” in the purchase contract.
- For purchase contracts that are contingent on the sale of an existing property, funds from the contingent sale must be received at least 5 days before close of escrow.
- Buyer must obtain a homeowners insurance binder and provide the binder to Brundle within 48 hours after clearing purchase contract contingencies.
- The Closing Guarantee is considered satisfied if Brundle is “cleared to close” on or before the date scheduled for close of escrow in the purchase contract. Neither Brundle nor Brundle will be responsible for the performance of any third parties to the transaction, including, without limitation, appraisers, title companies, homeowner’s insurance providers, local governments or government agencies, sellers, buyers, real estate agents, and closing agents.
- The Closing Guarantee will not extend any mortgage rate lock and does not constitute pre-approval or final approval of any application for a mortgage, nor does it constitute a commitment to make a mortgage loan.
- The Closing Guarantee is not available if the following scenarios or circumstances are present or arise during the course of the transaction:
- The Buyer changes the loan amount, interest rate, or other key term of the loan after the loan has been locked by Brundle
- Jumbo loans (or loans that require two appraisals) and down payment assistance loans (or bonds)
- New build construction
- Consolidation, Extension and Modification Agreement (“CEMA”) or New York Co-Op (“COOP”) purchase loans
- Purchase contracts or transactions that require well tests or environmental tests
- No properties with farmland or in areas zoned for agriculture, or encompassing more than 10 acres, or more than 250 miles from a city with at least a population of 100,000, as determined from the 2020 Census
- The Closing Guarantee is not valid if Buyer does not close the loan with Brundle, if the Buyer withdraws the Buyer’s loan application, if the Buyer’s loan application is canceled for incompleteness, if any fraudulent or misleading information is present in the transaction, if the home purchase transaction is not an arms-length transaction between two unrelated parties, or if any delay in the transaction occurs in whole or in part for reasons beyond Brundle’s control, including, but not limited to, any act, omission, or negligence on the part of Buyer, Seller, and/or inclement weather, acts of god, natural disaster, public emergency, or catastrophic event.
- Buyer is responsible for independently verifying all Terms of the Closing Guarantee. Buyer must submit a claim to Brundle against the Closing Guarantee no later than 15 calendar days after funding of the Brundle loan. The claim must be sent in writing by email to firstname.lastname@example.org and must include a copy of the borrower’s name, address of the subject property, loan number, confirmation that all eligibility criteria were met, and a reason for the claim. Brundle and/or Brundle may request additional information and may perform multiple independent reviews of the relevant loan files, documents, and facts before assessing the validity of a claim.1
- Tax laws may require Brundle and/or Brundle to collect Buyer’s and/or Seller’s tax identification number and/or social security number and to issue Buyer and/or Seller a 1099-MISC or 1099 form. Brundle and/or Brundle may also be required to report any payments made under the Closing Guarantee to Buyer and/or Seller to the Internal Revenue Service. Buyer and Seller should consult a tax adviser.
- Payments made pursuant to a claim under the Closing Guarantee are the only recourse available under the Closing Guarantee. Any other damages of any nature are expressly waived by Buyer and Seller and are disclaimed by Brundle and its affiliates.
- The Closing Guarantee is not transferable or assignable, even if there is a substitute/successor borrower/buyer and/or seller to the original purchase contract. Brundle reserves the right to rescind or modify the Terms of the Closing Guarantee without notice (such rescission or modification will not apply to Buyers and Sellers who complied with the Terms before the rescission or modification).