Definition of "Rebate"
Melanie Chadwell Norris, Real Estate Agent
RE/MAX ALL PROS - Tampa/Valrico
- Amount paid back or credit given because of an overcollection or the return of property sold. Also called refund.
- Unearned interest refunded to a borrower if the loan is paid off before maturity.
- Payment to a buyer after a purchase is made as an inducement to buy.
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