Tranquilli-T - Key Points
The Tranquilli-T Program by RE/MAX
We understand that buying or selling real estate is a significant step in your life. Our real estate brokers at YE/SARRAZIN in Montreal are well aware of this and are pleased to share with you the Tranquilli-T Protection offered by RE/MAX Quebec.
This program applies during a residential transaction with a real estate broker who is enrolled in this program, aiming to protect their clients. When represented by a real estate broker from our team for your buying or selling projects, this protection is provided to you free of charge, at our expense.
The protection comes into effect when your broker provides you with the protection certificate once all conditions of your purchase offer have been met (excluding the deed of sale).
Eligibility Criteria
Firstly, to access this program, the client must be an individual or a group of individuals. It is therefore not eligible for a legal entity such as a real estate developer or a company.
The property in question must be:
- A primary single-family residence or a building with 5 units or fewer, where the seller or buyer occupies one of the units;
- A secondary residence or a year-round accessible and habitable cottage that is not rented;
- The property sold or purchased does not exceed a value of 3 million dollars;
- A permanently fixed mobile home;
- A residence located on a plot of no more than 40 acres.
The following properties are excluded :
- A new construction;
- An income property (investment or 6 units and more);
- A property under the name of an estate (unless the spouse or child resides in it)
- A vacant property;
- A foreclosure (for investment).
The Four Aspects of Tranquilli-T
This program covers 4 aspects determined by RE/MAX Quebec, which it is important for us to inform you about
1. Timelines and Withdrawal
2. Death
3. Legal Assistance
4. Small Claims
Timelines and Withdrawal
Whether you are the buyer or the seller of a property, certain unforeseen events can occur, such as:
- A withdrawal of financing
- Job loss
- A separation
- A fire
- An issue with the location certificate
Unfortunately, these various events can impact the signing of the deed of sale and may sometimes lead to the termination of the transaction (purchase or sale of a property).
The Tranquilli-T program by RE/MAX comes into play when one of these situations occurs after the fulfillment of all conditions specified in your purchase offer. More specifically, verifiable, unforeseen, and reasonably incurred additional costs will be reimbursed, with only a deductible of $300 to be paid. The coverage period is 180 days following the scheduled date of the deed of sale or the policy specifications.
Death
In the event of the death of the buyer or their spouse, if the person representing the estate does not wish to conclude the transaction, the seller will be covered by Tranquilli-T. They will benefit from the Tranquilli-T coverage, which will take on the fulfillment of the buyer’s commitments, including the sale price specified in the purchase offer that will be paid to the seller.
Legal Assistance
The RE/MAX Tranquilli-T program allows a buyer or seller of a property access to a toll-free legal assistance telephone service for any questions related to the transaction. This service is in effect after the fulfillment of all conditions stated in the purchase offer and is valid for eighteen months following the deed of sale.
Do you have questions? Concerns? Neighborhood issues? Have you discovered a hidden defect after your purchase? You will have access to this legal assistance telephone service provided by a member of the Barreau du Québec specializing in real estate transactions
Small Claims
With the assistance of the legal assistance telephone service, you will receive up to three hours of legal guidance for anything related to your transaction and subsequent occupancy. Disputes fall under the Small Claims Division of the Court of Quebec.
If you have any questions about the Tranquilli-T program, feel free to contact us by phone at 514.543.6808 or by email at info@yanicksarrazin.com.
