Whether you are buying or selling a property, certain unforeseen situations may occur, such as:
•withdrawal of financing
•job loss
•separation
•fire
•a surveying problem
Such occurrences may delay and even cancel the transfer of title. With the Tranquilli-T program by Elite, if such a situation should occur anytime after all the conditions precedent to the offer to purchase are met, the additional charges incurred over and above $300 are covered by the program for a period of 180 days, up to a maximum of $25,000*.
Esther and George's story
Esther and George, young pre-retirees, are in the process of selling their property. They have found the home of their dreams, by a lake, and plan on moving into this property in July.
Shortly thereafter, their RE/MAX agent obtains a purchase offer, for their present home, from Mr.and Mrs. Teasdale. The completion date is scheduled for June 15.
However, a few days before the deed of sale is signed, the Teasdales separate, and so their plans of buying this property are dashed, needless to say. They phone their real estate agent to let him know.
The RE/MAX agent contacts the home sellers, Esther and George, to tell them the bad news. They are devastated and very worried. They need the money to finalize the purchase of their dream home and they certainly can't afford to pay two mortgages at the same time.
Solution: The Tranquilli-T Program by Elite With the help of their RE/MAX agent, Esther and George decide to put their home back on the market. Given their financial situation, they are able to obtain a bridge loan from the bank. Since their agent has enrolled in the Tranquilli-T program by Elite, the program will recognize the interest charges as an eligible expense. A number of expenses incurred by this withdrawal are also eligible up to a maximum of $25,000* or 180 days. Esther and George need not to worry about additional expenses either, such as electricity, gas, insurance, movers, storage, banking and interest charges.
*This amount may vary depending on the value of the property. Certain conditions apply
CLIENTS COVERED BY TRANQUILLI-T
•Registered RE/MAX clients are reimbursed for additional expenses incurred due to such unforeseen circumstances.
CLIENTS COVERED BY TRANQUILLI-T
•Registered RE/MAX clients are reimbursed for additional expenses incurred due to such unforeseen circumstances.
DEATH
If your buyer dies prior to title transfer With the Tranquilli-T Program by Elite, when you are selling your property, in the event of death of either the buyer or his/her spouse, you will be protected and the transaction will be guaranteed. In fact, between the time when all the conditions precedent to the offer to purchase are met and the completion date, if the Estate no longer wants to buy the house, you are still paid the agreed selling price.
Linda and Mark's story
On August 15, with the help of their RE/MAX agent, Linda and Mark accept a purchase offer on their property. The completion date is scheduled for November 1. At the same time, the RE/MAX agent concludes the transaction on the purchase of the couple's new property, with an occupancy date of October 20, as the property is in need of some minor work.
On October 13, the buyer suddenly dies. His spouse, the sole heiress, does not want to continue the transaction. The completion date is cancelled in order for the Estate to be settled and to give the family time to mourn. The RE/MAX agent contacts the couple to advise them of the situation.
Linda and Mark are wondering whether they will be able to move into their new home on the scheduled date and, above all, how they will be able to afford to pay for two mortgages at the same time! Faced with this situation, they turn to their RE/MAX agent and expect to receive a solution to their problem as quickly as possible.
Solution: The Tranquilli-T Program by Elite Fortunately, the RE/MAX agent had enrolled in the Tranquilli-T Program by Elite, so Linda and Mark will still receive the agreed upon selling price for their home. The resale of their home will be handled by the program, and so will the additional costs, such as taxes, maintenance fees, electricity, heating and any other costs related to the resale of their property. So Linda and Mark will therefore be able to move into their new home, as planned, without having to worry about an additional mortgage.
CLIENTS COVERED BY TRANQUILLI-T
•The seller receives the selling price as agreed in the offer to purchase.
•The seller can continue with his plans with full peace of mind.
•The sale of the property is handled by the program.
CLIENTS NOT COVERED BY TRANQUILLI-T
•Following the death, the sale is postponed until the Estate is settled.
•The seller risks losing the house on which he has made an offer.
•The seller has to pay the additional costs incurred as a result of the buyer's death.
Certain conditions apply
LEGAL ASSISTANCE
If you need legal assistance Whether you are buying or selling a property, the Tranquilli-T Program by Elite provides you with free legal consultation as well as legal coverage, for any legal problem related to your transaction. This coverage takes effect when all the conditions precedent to the offer to purchase are met and continues twelve months following the completion date. If you should have a question or a concern or if you have found a hidden defect, you have access to various resources in order to reach a settlement:
1.Free telephone consultation.
Answers, advice or recommendations will be given to you by a lawyer who is competent in real estate transactions.
2.Legal Protection:
In the event that legal procedures become necessary, legal fees will be covered up to $5,000 per incident, up to a an aggregate of $10,000.
Janet's story
Janet, a single parent, recently bought her first home - a lovely bungalow. The real estate transaction was completed, as expected, with no delays. The inspection was carried out and brought to light no problems at all. The transfer was signed on October 12 and Janet took possesion.
On February 17, the roof on her newly purchased property started leaking. In a panic, Janet contacted her RE/MAX agent.
Solution: The Tranquilli-T Program by Elite The RE/MAX agent reassures her; thanks to the fact that the agent had enrolled in the Tranquilli-T program by Elite, she is entitled to receive legal assistance.
Janet hesitates, thinking that she will not be able to afford the legal fees; however, her RE/MAX agent reminds her that her entitlement to legal assistance took effect, free of charge to her, on the date when all the conditions precedent to the offer to purchase were met and continues for a period of 12 months following the completion date. Moreover, should Janet need to take legal action, she would receive legal assistance, up to a maximum of $5,000 per occurence and up to an aggregate limit of $10,000.
CLIENTS COVERED BY TRANQUILLI-T
•From the moment when all the conditions precedent to the offer to purchase are met and up to twelve months following the completion date, RE/MAX clients:
i.benefit from complete legal assistance
ii.will be reimbursed up to $5,000 in legal expenses, per incident, up to an aggregate of $10,000.
CLIENTS NOT COVERED BY TRANQUILLI-T
•The client will have to pay all expenses related to legal consultations and legal proceedings
Certain conditions apply
All Agents at RE/MAX Real Estate Advocates offer this protection to all of their clients automatically... You don't have to ask...