FAQ

Below we have outlined the most common questions we are asked. However, if you have any additional questions, please contact us and we will be glad to help.

What does LIVE GRIP Option Contract cost?

The Option Contract provides you with protection of your property's value protecting you from decreases in the value of your property and comes at a very affordable price.

For an average-priced property, the fee could amount to less than $70.00 per month for the life of the contract.

The Option Contract is available for a one-time fee dependent on the value of your property and the minimum period you can buy protection for is 10 years.

How do you establish the value of a property?

We will pay for a valuation of your property at our expense to determine current market value of your property.

What are the advantages?

In the event that you decide to sell your property, you may sell the property to us, if you wish, but there is no obligation to do so.

However, because property prices have fallen, you may be unable to get the price you want. At that point, you may decide to exercise your Option Contract and sell to us.

Pursuant to the terms and conditions of the Option Contract, we will buy your property at the agreed price, regardless of the prevailing value of your property at the time.

What happens if I refinance my mortgage?

You'll still be eligible for the Option Contract.

Your mortgage and your Option Contract are two separate issues.

Is there a cap or are there any conditions?

There is no cap. All terms and conditions are contained within the Option Contract.


Is the Option Contract assignable to anyone else?

Yes, in certain cases such as death, separation and divorce, your rights may be assigned to heirs, successors, beneficiaries, and others who would inherit and live in your property.

Furthermore your rights may be assigned to your mortgagees.


When is it not appropriate for me to purchase a LIVE GRIP Option Contract?

If you plan to live in your property for less than two years, it is not appropriate for you to consider a LIVE Option Contract.

If you are not concerned about your property's resale value, it may not be advisable for you to take out the Option Contract (for example, if you intend to keep your house in your family forever).

You should, as with any financial decision, consult with the appropriate professionals and discuss whether the LIVE GRIP Option Contract is appropriate for you and your circumstances.