Property for Sale FAQs
Get your question answered on the bidding process
Frequently Asked Questions (FAQs)
If you’re interested in viewing properties, placing bids, or understanding the process better, you’ll find the answers you need. For any additional questions or specific concerns, feel free to contact us directly at 625-8863.
I saw your list of properties for sale by mortgagee. How do I make an appointment to see these properties?
You do not need to make an appointment to view the properties, you just need to go on the specified date between the specified times; or you can view the properties that are being sold as Land only or as is, at your own convenience. There will only be an exception for an appointment for one property on the list.
What are the upset prices or the minimum bids on the properties or is it just the outstanding balance you are looking to recover?
There are no upset prices for the properties as it is a Bidding process and you would place a Bid based on what you can qualify for or how much you believe the property is valued at, bearing in mind that we always try to get the best market values for the properties.
Can I bid on more than one property on the listing and more than one time on the same property?
Yes, you can bid on more than one property on the listing but you need to fill out a Bid Form for each property. You can also bid more than once on the same property but also on separate Bid Forms.
Is there a cost to submit each bid?
No, there is no cost attached to submitting your bid.
If I am successful with my bid for more than one property, will I be able to choose which property I want to purchase?
Yes, you will be advised that you were successful on more than one property and you will be given the option to choose which one you want to purchase.
Do I have to pay a deposit immediately when I submit the Bid Form?
No, you would only have to pay a deposit if you have been successful with Bidding for the property. You would then enter into an Agreement for Sale and the deposit is then paid within seven days’ time.
Are any of the properties available on a 'live-to-own' arrangement?
Unfortunately, none of the properties are on a live to own agreement. They must be purchased either by way of mortgage or cash.
If I am successful with my bid for a property and I wish to take my mortgage with TTMB can I still access the 2% and 5% loan programmes?
Yes, you can do so, once all the parameters of these loan programmes are met.
I will not be available to view the properties on the date stated because I am a sabbath-keeper and attend services on Saturdays. Is there any other day that can be arranged?
Unfortunately, we would not have any other days for viewing. You would have to view the properties on your own but you would only be able to see the outside of the properties. Alternatively, you can make arrangements for someone to view the properties for you and take the necessary pictures for you to make a decision.
If the property is on Leasehold land, will I be placing a bid on the house only?
Whether the property is on Freehold or Leasehold land, you will be basing your Bid on the market value of both the House and Land. Even though it is leasehold land you pay an annual fee for the lease of the land.
