FAQs

How much will the borrower rebate be?

Rebates depend on the purchase price of the home. The buyer rebate will be up to 0.6% of the purchase price of the subject property, subject to applicable terms and conditions viewable at realty.blend.com/rebate-terms.

Are there instances when the rebate is less than 0.6%?

Blend Realty or the Blend Realty Network Agent may update or modify the Buyer Rebate at their discretion.
The rebate amount could decrease depending on the buyer’s real estate agent’s commission (it could get negotiated down as one of the terms of the transaction, for instance) and other concessions being paid to the borrower (seller concessions like an allowance to replace a roof would be an example of a concession paid to the borrower, for instance). Sometimes there are limits to the amount of concessions paid to a borrower. This is called an interested party contribution limit, so in the instance that there are too many concessions going to a borrower to where there is an interested party contribution breach, the rebate would be reduced to the interested party contribution limit, so that there is not a breach. Blend Realty or the Blend Realty Network Agent will communicate the expected amount of the rebate after the purchase contract has been signed. Please view the Rebate Terms for details.

When will the borrower receive their rebate?

The rebate will be issued either at closing or within 30 to 45 days after the transaction has closed, depending on the circumstances of the transaction. Borrowers and lenders generally prefer that the rebate is facilitated at closing, but if the buyer, or the lender, prefer that the rebate be paid after closing, that is also possible.

What does the borrower need to do to receive their rebate?

The Blend Realty Network Agent, Blend Realty Concierge, and the loan officer will all be kept in the loop throughout the transaction. As mentioned above, in the vast majority of transactions, the rebate is facilitated at closing. The borrower can reach out to help@blend-brokerage.com with any questions.

Are there any restrictions to the rebate?

The final rebate amount is subject to lender approval based on investor and legal requirements.You (borrower) must utilize a Blend Realty or Blend Realty Network Agent to complete your real estate purchase transaction.This rebate offer is not available where prohibited by state law. The following states are not eligible: Alaska, Alabama, Iowa, Kansas, Louisiana, Missouri, Mississippi, Oklahoma, Oregon, Michigan and Tennessee. The buyer’s agent commission must be greater than 2% of the purchase price. This offer is valid only on the initial purchase transaction and must be completed within two (2) years from the time you accept these terms and conditions. Please see complete Rebate Terms at realty.blend.com/rebate-terms for details regarding eligibility.

Is there a maximum purchase price?

No.

What if the borrower decides to finance the purchase with a different lender?

The consumer rebate and the financing transaction are two separate transactions. Consumers may still receive the rebate if they use another lender.

How is the borrower matched with a real estate agent?

The borrower is matched with a top rated local real estate agent who is the best match to the borrower’s needs (location, price range, property type, etc.).

Is the rebate a taxable event?

According to IRS guidance, a commission rebate represents an adjustment to the home purchase price and consequently is not considered taxable income. However, Blend Realty recommends that you consult your accountant or a tax professional about the rebate tax liability since situations are rarely universal.