Frequently Asked Questions

Do I qualify for a guaranteed backup offer?

To qualify for a guaranteed backup offer from Properly, you need to be both buying and selling a home in the cities that Properly operates in (Toronto and Ottawa). 

Properly makes guaranteed backup offers when we are able to confidently estimate a home’s selling price. The following table details the home features that qualify homes to receive a guaranteed backup offer in Toronto and Ottawa:

 City

Toronto

Ottawa

Home type

  • Detached, semi-detached, townhomes and condo apartments
  • Detached, semi-detached, and townhomes without strata fees

Property value

  • Detached, semi-detached, townhomes: Between $500,000 and $1,500,000
  • Condo apt: Between $300,000 and $1,000,000
  • Between $250,000 and $700,000

Age

  • Detached, semi-detached, and townhomes: No age restriction
  • Condo apt: Built after 2000
  • Built after 1960

Home features

Home Features - Non-Condo

  • 2+ bedrooms above ground
  • 1+ full bathrooms and 1+ half bathrooms
  • 1-acre lot size or smaller

 

Home Features - Condo

  • Not a studio (0 bedrooms) or a 1 bedroom without parking
  • Not a condo-hotel
  • Maint. fees <$0.85 / sq ft
  • Not leased at the time of closing

 

Location

  • Not in Dufferin County or Simcoe County

Home Features - Non-Condo

  • 2+ bedrooms above ground
  • 1+ full bathrooms and 1+ half bathrooms
  • 1-acre lot size or smaller

Other restrictions

  • Not in age-restricted communities
  • Not in a flood zone
  • Not used for grow-op
  • Free of foundation issues
  • Free of Masonite woodruff roofs
  • Not leased at the time of closing

 

 

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