Seller receives an interest free loan for up to $30,000 to refresh and refurbish their home.
Yes, the seller must sign the note and it must be notarized in the county where the property is located.
The ability to update and renovate their property prior to putting it on the market in order to increase their net proceeds.
The seller is responsible for paying back the loan to the Select Group. The loan will be extended to allow time to refinance or pay back the loan.
Yes, if a seller would like professional staging that can be included in the refreshing process.
No interest will be charged to the seller if the funds are repaid within 120 days. Interest will accrue beginning on the 121st day on the outstanding balance at the rate of 6% per annum.
The program is for homeowners only and is not available for professionals looking to buy and “flip” homes.
Seller is aware and agrees by signing the application that a lien will be placed on their property to secure the funds from the loan.
The seller is requested to fund at least 10% of the total expenses.
Maximum loan to value percentage allowed is 75%.
No. You will only pay interest from the 121st day and only on the amount outstanding.
Yes. On a case by case Select will approve the use of the program to make critical home repairs.
No. The Select agent will work with you to find, choose and coordinate the work.
Once you approve and sign an invoice for payment, Select will pay the contractor directly while keeping a detailed tally of funds used.
You do. Your Select agent will assist you in finding Contractors/Vendors, however the final selection and bid approval is yours.
Yes. Your agent will work with you to determine the best items to "Refresh and Refurbish", however the final decisions are yours.
Yes. You could use our Refresh and Refurbish Program to prep your home for sale of top dollar and then use both the Select Guaranteed Sale and Buyer Protection Plan to make Non-contingent offers on your Dream Home!