No, the rebate comes from the commission your buying agent receives. The rebate is deducted from the amount indicated on the commission form of the agreement (Confirmation of cooperating and representation).
Are there any risks or potential downsides to receiving a buyer rebate?
None at all it’s simply a way for New Era Real Estate to show our appreciation to our wonderful, loyal clients.
Will the buyer rebate be provided as cash or applied towards closing costs?
You will receive a wire transfer or cheque whichever you prefer from New Era Real Estate as soon as we receive the funds from the listing brokerage after the sale is closed (usually 1-2 weeks) less $50 processing charge.
Can I combine a buyer rebate with other incentives or programs, such as first-time homebuyer programs or mortgage grants?
Absolutely, our Buyer Loyalty Program is completely separate from those other programs. This rebate is exclusive between our amazing buyers and New Era Real Estate.
Are there any tax implications for receiving a buyer rebate?
We recommend you inform your accountant of the funds received when filing your taxes.
Do I need to sign any agreements or contracts to receive a buyer rebate?
As you embark on your home-buying journey, there will be some paperwork to complete, including the Buyer Representation Agreement, which marks the wonderful moment when New Era Real Estate officially becomes your trusted representative in this exciting endeavour. The commencement date on this representation agreement will being the clock on which rebate you qualify for once you purchase your new property.
Who pays the buyer rebate, and how is it distributed?
Our head office pays out the buyer rebate once we receive the buying side commission from the listing brokerage (usually takes 1 – 2 weeks). Once received the rebate will take roughly 1 week to process.
Will receiving a buyer rebate affect the home’s purchase price or the negotiation process?
Not at all, our rebate program is designed to be of great advantage to you, particularly in situations with multiple offers. It provides you with a wonderful sense of flexibility and peace of mind, knowing that you’ll be receiving a large rebate after the closing. This added benefit enhances your negotiating power and, allows you to make confident decisions and relish the excitement of your new home journey.
Is there a minimum purchase price or other requirements to qualify for a buyer rebate?
No every buyer and every property is eligible to take advantage of our Buyer Rebate Program.
Are buyer rebates legal in my state/country?
Yes they are.