Dwelly’s Commission Rebate provides a nominal refund that can be contributed to payments on or after closing. The Dwelly Commission Rebate calculations displayed on Dwelly’s website and other platforms are estimated based on the standard default buyer’s agent commission of 2.5%. Dwelly agrees to provide 50% of the buyer’s agent commission. 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 Dwelly Commission Rebate is not a guarantee or an offer from any party to provide savings on a specific property. 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 RealEstate and Business Brokers Act, the Condominium Act, or any other provincial or federal laws and the regulations thereunder. The Dwelly Commission Rebate is not intended to solicit parties under the exclusive contract with another brokerage.
Dwelly is not responsible for the tax implications upon receiving the Dwelly Commission Rebate. The purchaser is therefore responsible for any HST or income tax implications that may arise from the rebate. Dwelly agrees to provide 50% of the buyer’s agent commission to be applied on or after closing. Should the property fail to close, all funds would be returned. If the Dwelly Commission Rebate funds are provided prior to closing, the funds must be returned by the purchaser 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 purchaser assumes the risk of any material changes regarding same.
Unless subject to any of the aforementioned limitations or otherwise specified by the buyer or lender, the Dwelly Commission Rebate is applied as a credit to the purchaser, being paid within a reasonable time as agreed to by the purchaser and Dwelly. Unless agreed to in writing by an assigned purchasing agent or broker, the Dwelly Commission Rebate will only be issued to the person and/or entity listed on title to the subject real property at the closing of a transaction, regardless of whether said person and/or entity is the buyer.
Dwelly reserves the right to make changes to the Dwelly Commission Rebate calculations at any time while honouring all agreements commenced prior to any change. Posting revisions of these Terms andConditions to the Dwelly website serves as proper and complete notice to purchasers of changes to these Terms and Conditions.