Everyone knows that the more finished and staged a home is when it goes on the Marin market, the more it will sell for. But often times owners are strapped for cash as they try to cover all of the expenses to optimize home value which can add up quickly – paint, floors, repairs, staging….if the owner does not have the cash to do the work, what do they do?
Coldwell Banker’s new RealVitalize program is an excellent way to help Sellers prepare their home for the market, and get maximum return on that investment. Through RealVitalize, Coldwell Banker will loan money for improvements and help owners get the maximum amount of money for their home. When the sale closes, the owner can then use the proceeds to pay the money back. It is an excellent service, as typically the payback on many of the improvements is double or better.
We have successfully used the service on two listings that recently sold. On one, Realvitalize paid the staging and painting costs. On the other, they paid for significant repair of dry rot and a leaky roof. On that one, Realvitalize paid for over $20,000 in repair work and improvements. In both cases, the house sold for much more than it would have without the improvements.
The vendor who does the repair needs to get approved by the Realvitalize program, but once they are, they are eligible for other Coldwell Banker clients who use the service as well, and will be on a recommended list of approved vendors, so it can expand their business. The vendors we have used were approved quickly, and they were happy with the payment system.
This is an excellent program that helps home owners with that cash crunch that often comes during house preparation!