Frequently Asked Questions

Where can I sign up for LIVE?

LIVE is uniquely offered by Lock-In Value Equity Ltd. It is not available from anyone else.

LIVE has provided its expertise and resources to develop this exciting new product. You can call our office to speak with a professional who can answer your questions and help you sign up for LIVE if you decide it is right for you.

What does it cost?

LIVE provides you with certainty and can safeguard you from decreases in the value of your home at a very affordable price.

It is available for a one-time fee dependent on the value of your home. For an average-priced property the fee would amount to less than $20 per month for the life of the contract.

Things you should know before deciding to purchase LIVE

How does LIVE value your property?

We will, if required, employ our own valuer at no cost to you to determine the current value of your property, in agreement with you.

When can I use LIVE?

In the event that you decide to sell your property, you may if you wish sell the property to us, but you have no obligation whatsoever to do so. However you may not be able to get the price you want. Since we agreed to purchase your property, we are bound to buy your property at the price agreed upon, irrespective of its worth at time of sale.

You must own your home, and the programme operates for an initial period of 10 years, after which you may extend the option.

What happens if I refinance my mortgage?

You’ll still be enrolled in the LIVE plan. Your mortgage and your LIVE option are two separate things. If you refinance your mortgage, the plan you purchased is still in effect – until such time as you sell your home.

Is there a cap or are there any conditions?

There is no cap. The contract and terms & conditions contain full details. These include, for example, that you are obliged to insure the property for its full replacement value as well as maintain it.

How does the LIVE programme operate?

An example:

• We agree the value of your home in 2006 at $250,000.
• You Lock-In the value at $250,000.
• You enter into an agreement with us giving you the right to sell the property at the Locked-In value. You have no obligation whatsoever.
• In 2009 you wish to sell the property.
• You receive an offer, say $300,000, you are free to sell to whomever you wish.
• In the event that the best price you can obtain is less than the locked in value, you will then, if you wish sell it to us at the Locked-In Price of $250,000. We will be bound to purchase the property at the Locked-In price, thereby enabling you to ensure that you will never receive less than the Locked-In value.

Is the LIVE assignable to anyone else?

Yes, your rights may be assigned to heirs, successors, beneficiaries, and purchasers. Furthermore your rights may be assigned to your mortgagees

Are there any circumstances under which it is not appropriate for me to purchase a policy?

If you plan to live in your home for less than three years, it is not appropriate for you to enter into the programme. If you are not concerned about your home’s resale value, it may not be advisable for you to purchase LIVE (for instance, if you intend to live in your home or keep your house in your family forever). You may want to talk to one of our advisors to discuss whether LIVE is appropriate for you