Sellers often laugh about their home looking its very best RIGHT before they are getting ready to sell it to someone else, but as Realtors, we know this strategy really pays off! Our Windermere Ready program allows you to make the changes you’ve always wanted to.
This loan program is exclusive to Windermere brokers and allows Sellers to borrow a portion of the equity in their current home to make improvements prior to selling. The most common improvements we see include landscape cleanup, interior & exterior paint, refinishing hardwoods, replacing carpet, deep cleaning & decluttering, replacing outdated fixtures and installing new counters.
Windermere Ready provides up to $100,000 for upgrades & repairs with little or no upfront cost. The application process is faster and easier than a traditional refinance or opening a new line of credit! A few important details: Sellers must list their home with a Windermere agent within 60 days of loan approval, and the loan must be repaid in full within 6 months. Although there are no upfront fees, a fee is due at closing for all Windermere Ready loans. The most recent fee was 2% of the loan amount (but be sure to ask for current rates!) There is a 11% interest (APR 14.77%) that is bundled into the loan. Loans over $50,000 also have approximately $570 in title fees.
Another benefit of this program is that Sellers can choose their own contractors (we are happy to provide trusted referrals) and there is no formal “draw” process like with a new construction loan. You can also use the Windermere Ready program for repairs that come up during the inspection process, or even to pay for home staging!
To get the application process started, one of our brokers will perform a brief “market analysis” on your home, and you will need to complete a three-page application. This is a loan, so of course there will also be a credit check. Loans are usually approved within a couple of days of application. Once the loan is approved, the funds are made available in their entirety (via wire transfer) within about 10 days.
Reach out to one of our brokers today to schedule an appointment for a market analysis and find out which projects will have the highest return on your home.