Understanding When and How HOMEH Cashback Is Paid Out
HOMEH Publishing Department
Editorial team · HOMEH Inc., Brokerage · RECO #6000380 · May 09, 2023 · 4 min read
Buying or selling a home can be exciting and stressful. At HOMEH, we want to make it easier for you. Our cashback program is designed to reward you. Here’s how it works and when you can expect to receive your cashback.
Key takeaways
HOMEH offers the Cashback Rebate to eligible buyers.
Cashback is paid out after the closing of the transaction.
The amount depends on the purchase price of your home.
For buyers, the Cashback Rebate is 1.5% of the purchase price, paid at closing.
What Is HOMEH Cashback?
The HOMEH Cashback Rebate is a reward for buyers who purchase with HOMEH. Sellers list for 1%, or free when they also buy with HOMEH within 6 months, or $395 + HST with a Mere Posting. When you buy a home with us, you receive a portion of the commission back. This can help reduce your overall costs.
Who Is Eligible for Cashback?
To receive cashback, you must work with HOMEH as your brokerage. The Cashback Rebate is for buyers. Sellers list for 1%, or free when they also buy with HOMEH within 6 months, or $395 + HST with a Mere Posting. Ensure you meet all terms of our agreement to be eligible.
When Is Cashback Paid Out?
Cashback is paid out after the closing of your real estate transaction. This means once all documents are signed and the sale is complete, you will receive your cashback.
Typical Timeline
Closing day: The sale is finalized.
1-2 weeks after closing: HOMEH processes the cashback.
You receive your cashback via your chosen method.
How Is the Cashback Amount Calculated?
The amount of cashback you receive depends on the purchase price of your home. HOMEH offers a low listing fee of 1% when selling. Buyers receive a Cashback Rebate of 1.5% of the purchase price, paid at closing.
Example of Cashback Calculation
For example, if you buy a home for $1,000,000, your Cashback Rebate is 1.5% of the purchase price, or $15,000. The exact amount will depend on your specific situation.
How to Claim Your Cashback?
Claiming your cashback is simple. Once your transaction closes, you will receive a confirmation from HOMEH. This will include details about your cashback amount. You just need to follow the instructions provided to access your funds.
Important Reminder
Always keep your contact information updated with HOMEH to ensure you receive your cashback without any delays.
Frequently asked questions
How can I check my cashback status?
You can check your cashback status by contacting your HOMEH representative. They will provide you with the details on your transaction and cashback.
Is there a minimum amount for cashback?
There is no minimum amount for cashback; it is 1.5% of the purchase price. Speak to a HOMEH agent to understand what you can expect.
Can I receive cashback if I change my mind after closing?
Once the transaction is closed, the cashback is already calculated. Changing your mind will not affect the cashback you receive.
What happens if my transaction does not close?
If your transaction does not close, you will not be eligible for cashback. Make sure to discuss any concerns with your HOMEH agent before proceeding.
A quick note
This article is general information only and is not legal, tax, or financial advice. Rules and figures can change — check with a licensed professional before you act.
Ready to put this into action?
Get pre-qualified in five minutes, or talk to a HOMEH advisor — no credit pull, no commitment.
Key takeaways
