Own your dream townhome with a deposit of just $1.00.

How does it work


Select the home of your choice from any of the amazing homes we have here at Liberty Encore


You’ll put up just a $1.00 deposit, and you’ll use the equity in your existing home, as security for your purchase – don’t worry, there’s no interest, and no actual money changes hands


Take a week to go through everything and make sure this is the right move for you – we’ll then evaluate your property and ensure it’s a fit for the program


You’ll meet with a legal professional to sign something called a collateral mortgage – which is just like it sounds – it’s a mortgage where you’ll use the property as collateral for something else – in this case your purchase at Liberty Encore


Want to know more? Be sure to contact our sales team!


What is Project Alpha?
Project Alpha is a promotion available only at Liberty Encore. Instead of a traditional cash deposit, buyers are able to use equity in their existing property to secure their purchase. This is accomplished through the use of a little-known legal instrument called a “collateral mortgage”.

What is a collateral mortgage?
A collateral mortgage is just like it sounds, it’s the use of a property as collateral for the fulfillment of a promise or commitment.

Is there any interest charged on the collateral mortgage?

Are there any payments made on the collateral mortgage?
No, the mortgage is simply the vehicle the developer has as security against default, similar to the way buyers would normally put up a cash deposit.

Can the agreement be assigned and what are the assignment fees?
Yes, $1,000 + GST.

How much equity do I need in my property to qualify?
Generally, what we’re looking for is a minimum of 15% to 20% of your Liberty Encore unit’s purchase price in equity. Loan to value ratios are more subjective, but generally speaking, we do not want to go past approximately 85%. 

Do all of the Buyers on the title for my existing property need to be on the Liberty Purchase Agreement?
Yes, everyone on title needs to be a buyer.

Does my property need to be in BC?

Do we need to be physically present on Saturday?
At least one person needs to be present. This can include your realtor.

Do we need to be physically present to sign the collateral mortgage?
Yes, everyone on the title to your property needs to be physically present with two pieces of ID.

Does the collateral mortgage get registered on title to my property?

How does the registration of the collateral mortgage happen?
Platinum’s legal team takes care of it.

Are there any additional costs or fees?
The legal representative on site will charge a small fee to witness your signatures and answer any questions you have.

What about the costs of registration?
The builder covers all of those costs.

What happens if I want to sell or refinance my property?
If you sell or refinance, you’ll likely need the collateral mortgage discharged. If you refinance, you would simply pay a 10% Deposit in the normal fashion, and the collateral mortgage disappears. If you sell, the collateral mortgage is discharged at completion – you would pay the 10% deposit from the proceeds of sale

Want to know more?

Be sure to contact our sales team!

Liberty Encore Sales Team
Eileen Ong PREC* & Jane Konradova
250-547-0900 | info@libertyencore.ca