Dwelly Realty Inc.’s (“Dwelly”) Home Buyer Commission Rebate (“Rebate”) provides a nominal refund that is provided after closing. The Rebate calculations displayed on Dwelly’s website and other platforms are estimated based on the standard default buyer’s agent commission of 2.5%. The estimates are not a guarantee or an offer from Dwelly or any of its agents to provide a refund or savings on a specific property.
Dwelly agrees to provide 1% of the buyer’s agent commission to be applied after closing. The Rebate is subject to a minimum net commission of $6,000 to Dwelly after taking into account the Rebate.
In order to be eligible for the Rebate, (a) the buyer must have made requests to view properties, submitted offers to buy properties, and otherwise interacted with buyer’s agent in respect of such properties via Dwelly’s online platform located at www.Dwelly.ca; and (b) the buyer and applicable salesperson must have duly executed a Dwelly Home Buyer Commission Rebate Agreement in respect of the subject property.
Any MLS or Listing Broker fees or charges passed on to Dwelly as the buyer’s broker will be deducted from the buyer’s agent’s gross commission before calculating the Rebate. Commissions may change during the closing process and will be finalized only at closing. The amount of which may vary, as adjustments may be made by Dwelly at any time to reflect changes in costs or due to marketplace conditions. The Rebate is not a guarantee or an offer from any party to provide savings on a specific property. The amount of the Rebate is not guaranteed. The actual amount received may be limited, prohibited, or reduced pursuant to the agreement of purchase and sale, lender restrictions, the Municipal Act, the City of Toronto Act, the Real Estate and Business Brokers Act, the Condominium Act, or any other applicable provincial or federal laws and the regulations thereunder. The Rebate is not intended to solicit parties under the exclusive contract with another brokerage.
Dwelly is not responsible for the tax implications to buyer upon receiving the Rebate. The buyer is therefore responsible for any HST, income or other tax implications that may arise from the Rebate. Should the purchase and sale of the property fail to close, all funds would be returned. If the Rebate funds are provided prior to closing, the funds must be returned by the buyer if the property does not close. The buyer’s agent commission is subject to change during the process of closing due to modifications in the terms of sale and the buyer assumes the risk of any material changes regarding the name.
Unless subject to any of the aforementioned limitations or otherwise specified by the buyer or lender, the Rebate will be paid to buyer by way of cheque issued by Dwelly in the amount of the Rebate, mailed within sixty (60) days of closing (provided that all applicable commissions have been received by Dwelly, and provided that the foregoing period may be extended by Dwelly in its sole discretion by reason of matters outside of Dwelly’s reasonable control). The Rebate will only be issued to the person and/or entity listed as buyer on the applicable agreement of purchase and sale.
Dwelly reserves the right to make changes to the Rebate calculations at any time while honoring all agreements commenced prior to any change. Posting revisions of these Terms and Conditions to Dwelly’s website serves as proper and complete notice to buyers of changes to these Terms and Conditions.