Program terms, in plain language.

The terms

Twelve points, in the order they come up.

1. Who is eligible

   You qualify when all of the following are true:

   • You sign an exclusive Buyer Representation Agreement (BRA) with Royal LePage Team Realty naming Narges Shahsavarani as your designated representative, with the Ideal Buyer Program schedule attached.
   • The schedule is signed before any offer is submitted on the property you buy.
   • Your purchase closes during the term of the BRA, with Narges acting as your buyer’s representative throughout.
   • The brokerage receives the full buyer-side commission on the purchase and pays Narges her share of it (see point 5).

   One credit is paid per purchase, no matter how many buyers are on title. The program is available for residential property in Ontario, and is intended for buyers in Ottawa and the surrounding area.

2. The amount

   A flat $2,000.00 CAD. It does not change with the purchase price or the commission, and it is not tiered. Where a different amount is agreed in writing in your schedule, the schedule governs.

3. Who pays it, and when

   Narges Shahsavarani pays the credit personally, from her share of the commission, within 30 days after the later of your closing date and the date she receives her commission from the brokerage. She pays by cheque or Interac e-transfer to the buyer named in the BRA. A copy of your signed schedule and proof of payment are placed in the brokerage’s trade file for your purchase.

   [Optional, if the Broker of Record chooses to allow it: at your request, the credit may instead be sent to your lawyer, in trust for you, to be applied on closing.]

   The credit has no cash value before closing and cannot be advanced, assigned or applied to your deposit or down payment.

4. What it is for

   We call it a closing credit because closing costs are what it is sized for. You are free to use it as you wish once it is paid. It is not a referral fee, not a rebate of the purchase price, and not a term of your agreement with the seller.

5. Minimum commission

   The credit does not apply to any transaction where the buyer-side commission is reduced, withheld or not payable to the brokerage. In particular, it is paid only when the commission the brokerage receives on your purchase, before HST, is at least $[X]. Below that amount the credit does not apply. Narges will tell you before you make an offer whether a specific property is likely to meet the minimum, since buyer-side commission in Ontario is set by each listing and can vary.

6. Purchases that do not qualify

   • Private sales and any purchase where the brokerage receives no commission.
   • Assignment purchases where no commission is paid to the brokerage.
   • Properties listed for sale by Narges or by Royal LePage Team Realty where Narges is the listing representative.
   • [Optional: purchases with a price below $[Y]]
   • [Optional: other exclusions the brokerage sets, such as commercial property or purchases outside the Ottawa area]
   • Any purchase where the BRA is terminated, or the schedule is withdrawn, before closing.

7. One offer at a time

   The Ideal Buyer Program cannot be combined with any other credit, rebate, discount or promotion offered by Narges or the brokerage. If you are eligible for more than one, you choose one.

8. Your lender

   Some lenders treat a credit like this as a reduction of the purchase price, which can change the mortgage amount they approve, especially on insured mortgages. For that reason:

   • The credit is conditional on your lender permitting it.
   • You are responsible for telling your lender or mortgage broker about the credit before your mortgage is finalized. Narges gives you a one-page lender disclosure note to hand over when you sign the schedule.
   • If your lender does not permit the credit, the credit is not paid. Your BRA and Narges’s services continue unchanged.
   • The credit is not a reduction of the purchase price unless your lender treats it as one, and it never changes the price in your Agreement of Purchase and Sale.

9. It is in writing

   The credit is only promised in the Ideal Buyer Program schedule attached to your BRA, signed by you, Narges and the brokerage. An ad, a conversation or this page does not create the promise on its own. If this page and your signed schedule ever differ, your schedule governs.

10. Tax

    Narges pays the credit from income she has already earned and paid HST on; it is her business expense, not the brokerage’s. For most buyers purchasing a home to live in, a credit like this is not taxable income. If you are buying as an investment, or you are not sure, ask your own accountant. Neither Narges nor the brokerage gives tax advice. [Confirmed by Narges's accountant on [date]]

11. Changes and withdrawal

    The Ideal Buyer Program may be modified or withdrawn for new agreements at any time. A schedule you have already signed keeps its terms until your BRA ends.

12. The ordinary rules still apply

    The program sits on top of a standard Buyer Representation Agreement and does not change Narges’s duties to you, the brokerage’s duties under the Trust in Real Estate Services Act, 2002, or anything in your purchase agreement with the seller.

Who stands behind it

Paid by Narges. Approved by Royal LePage Team Realty.

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