Platform Fee Policy
SaveOnEstate Inc. Effective Date: September 9, 2025 Last Updated: September 9, 2025
1. Platform Service Fee Overview
1.1 Fee Structure Foundation
The SaveOnEstate Platform Service Fee is the core revenue mechanism that enables us to provide our comprehensive technology platform. This fee is earned when our platform successfully facilitates the creation of a firm and binding real estate contract between a buyer and a seller.
1.2 Technology Platform Model
As a technology platform and not a real estate brokerage, our fee is designed to provide exceptional value by giving users the tools they need to manage their own transactions, thereby saving them a significant amount compared to traditional commission models.
2. Fee Calculation
2.1 Value-Based Fee Model
Our Platform Service Fee is a simple, transparent, value-based fee calculated as 50% of the typical total commission cost in British Columbia. This model ensures you receive the full benefit of our technology-driven efficiencies.
The underlying formula is based on the common tiered commission structure in British Columbia (7% on the first $100,000 and 2.5% on the balance, plus GST). Our fee is precisely half of what you would typically expect to pay in total commissions.
2.2 Interactive Calculator
For full transparency, an interactive calculator is available on our /pricing page, allowing you to see a detailed breakdown of the typical costs, our fee, and your estimated savings based on your property's value.
3. Binding Contract Event Trigger
3.1 Fee Trigger Definition
The Platform Service Fee becomes legally earned and irrevocably due and payable upon the occurrence of the "Binding Contract Event." This is a critical, clearly defined moment in the transaction, which occurs when:
- A buyer explicitly removes their final subject condition through the SaveOnEstate platform.
- The platform's system records and confirms this action with a timestamp.
- The purchase agreement becomes a firm, binding, and unconditional contract.
3.2 No Fee Scenarios
No Platform Service Fee is due if the transaction does not reach the Binding Contract Event. This includes scenarios where an offer is never accepted or where a conditional agreement is terminated before subjects are removed.
4. Fee Collection Process
4.1 Collection Through Closing
The Platform Service Fee is collected seamlessly through the standard real estate closing process.
- The fee is paid by the seller from the proceeds of the sale.
- Payment is handled by the seller's chosen legal representative (lawyer or notary).
- This process ensures we never handle your funds directly, aligning with our legal position as a technology provider.
4.2 Closing Instruction Sheet
Upon the Binding Contract Event, a Closing Instruction Sheet is automatically generated and sent to the legal representatives of both the buyer and seller. This document provides a comprehensive summary of the transaction and includes the formal instruction for the seller's representative to remit the Platform Service Fee to SaveOnEstate Inc. upon closing.
5. Fee Policies
5.1 Refund Policy
Because the Platform Service Fee is only earned upon the successful creation of a legally binding contract (the Binding Contract Event), no refunds are provided after this event has occurred. Our service is considered fully and successfully delivered at this point.
5.2 Fee Transparency
We are committed to full transparency. The fee structure is disclosed in our Terms of Service and on our /pricing page. The exact fee amount for your transaction will be clearly displayed and confirmed before you accept an offer.
6. Contact Information
For any questions regarding this Platform Fee Policy, please contact us:
SaveOnEstate Inc. Email: legal@saveonestate.com Phone: +1 (778) 513-4033 Address: 800-885 West Georgia Street, Vancouver, BC, V6C 3H1, Canada