If your transaction is delayed or cancelled
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*.

CLIENTS COVERED BY TRANQUILLI-T

CLIENTS NOT COVERED BY TRANQUILLI-T

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