Buyer Protection Plan
The Buyer Protection Plan has been developed in consultation with Canadian real estate industry leaders, as an innovative solution to the problems arising in today's real estate market.
The Home Buyer Protection Plan
Buying a home is a large investment and like any other big decision it comes with risks. The Home Buyer Protection Plan is a solution offered to buyers to help reduce the risks associated with purchasing a home. The program has two components that help mitigate the risk of volatility in interest rates and home prices.
Home Price Protection
The Buyer Protection Plan is a managed contract between the buyer and seller of a home. The plan allows sellers to offer to sell their home quicker in exchange for the promise to the buyer that if the market drops one year later the buyer receives a rebate.
For example, if you buy a Buyer Protection Plan home for $300,000 that comes with a 5% price guarantee, and the market does in fact fall 5% then the buyer receives $15,000.
Interest Rate Protection
Interest rates are expected to rise after years of historical lows. Buyers are concerned about the effects of rising rates on their monthly payments at renewal, when rates will most certainly be much higher than now. With our Interest Rate Protection program we eliminate the shock of increased payments when you renew. This program saves $10,000 or more on the average mortgage in Canada.
Current number of Realtors® signed up with Buyer Protection Plan is 433.