The Basics
This is the acronym Homeward uses for offer presentation conference calls with the agent, the seller and the regional sales director.
What is a HOP
7%
What is the HW Program Fee
This is the term used to describe the percentage of Guaranteed Offers (GO) business that Homeward captures each month.
What is wallet share.
True or False? I have to hold a VIP call before I can do a HOP.
What is False
This is the fee charged when a seller fails to vacate after the agreed-upon leaseback period ends.
What is 4 times the daily rent rate?
This is the acronym used to describe the HW program.
What is SBYL (Sell Before You List)
21 - 30 days
What amount of days to close of escrow/closing with Homeward.
7 days after the initial offer date
When does the Homeward offer expire?
It is strongly encouraged to submit a this for a “successful” reconsideration.
What is a Gold Standard CMA?
True or False? Effective 5/21 Lawn and Pool Care is now included in the repair and maintenance credit?
What is True?
This is the % of equity the seller is able to unlock on the 1st closing with this program
What is 84%
This is the price that will reflect in the public records after the Homeward closing.
On average, this is the additional percentage sellers are earning from the estimated net proceeds on the Market Sale, compared to investor offers.
What is 10%-11%
This is where you send all proof of repairs and paid invoices at least 3 business days prior to closing.
What is proofofrepairs@homeward.com
True or False? It is a good idea to schedule a HOP when the repair and maintenance credit is "TBD"
What is false?
The 3 things Homeward provides to your seller
Guarantee
Certainty
Convenience
This option is available for up to 14 days from the original close date
What is the HW leaseback option
GIVE US YOUR BEST 30 second elevator PITCH at your first appointment
This is required to assess the current market value if a seller wants to close past 45 days from the original close date.
What is a refresh?
True or False- Effective after 5/21 your FULL commission is paid at the time of the Homeward Purchase?
What is TRUE
A seller with a market-ready home who is motivated to take a cash offer
What is a ideal customer for Homeward
$4000
What is Seller Leaseback Deposit
Facing foreclosure; Probate or estate sale; Divorce; Health issues; Job loss; Large family or hectic lifestyle; Investment property or rental turnover; Relocating and needs a firm timeline; Has already found their next home; Concerned about market timing or price shifts
What are reasons someone would LOVE to accept the Homeward offer?
Closing date; Temporary Occupancy Agreement (TOA) and Name(s) on Title
What are the 3 things needed to get a PSA from the GO Team
The cost your seller will incur when the seller agrees to keep utilities in their name and then stops paying for them within the 120 days
What is 1% of the purchase price