COVID-19 Programs

COVID-19 Programs for Buyers & Sellers

Offered by Brett & Jody Boettge

We have spent quite a bit of time working with our vendors, looking at our budget and determining what parts of our process require physical interaction in the event of a “Stay-At-Home” order or similar. We then went to work to determine what types of programs we can provide to assist home buyers and home sellers in Palm Beach & Martin Counties. 

For Buyers: Since 2014 Jody and I have offered a “Happiness Guarantee” when you purchased a home with us. The Happiness Guarantee stated that, “If for any reason you have to sell your property within two years of purchase, we would list your home for free.” This program was designed for Job Loss, Divorce, Relocation, You didn’t like your neighbor….any reason at all, we would list it for free. We crafted this program because life happens and our careers were born in the real estate collapse…we saw home buyers forced to sell and emptying their savings just to cover closing costs. We wanted to create programs that provided TRUE VALUE, benefits that weren’t just for show. Honestly, since 2014 when we launched the program home values have done nothing but increase, six of our over 200 past clients used the program which reduced their selling expenses and increased their profit. Since COVID-19 has spread through South Florida, many jobs have already been lost and many, many more are threatened. It is THIS market our program was designed for...we all need a roof over our heads and if we can add some peace-of-mind with the same successful program we have used since 2014, then we are happy to do so. The program again is simple and its original roll out was sealed with a handshake. To summarize our Happiness Guarantee:

  • Hire Brett & Jody Boettge to assist you in purchasing a home whether resale, condo, single family or new construction. 

  • Should you need to sell that property for any reason within 2 years from your closing date, we’ll list it for free… 100% free.

This was a benefit to our clients and rarely did we put any effort into sharing this with the general marketplace. We are going to call the program, “COVID-19 Home Buyer Assurance Plan” which is the same program as the Happiness Guarantee has always been, but we wanted people to be more descriptive in the title so Buyer’s understood the intent of our offer.

For Sellers: After living through 2008 & 2009, we learned after food, water and shelter, CASH was key. Undoubtedly we, as a Country are moving into this next recession in a much better financial place than we were in 2008 & 2009, but we recognize that much of a homeowners net worth could be locked up in their homes. We are rolling out a LIMITED plan for Seller’s as a last resort if they have lost their jobs and remain unemployed. Let’s discuss some housing options ahead of that:

Forbearance

 If coronavirus has caused job loss, income reduction, sickness, or other issues that impact your ability to make your monthly mortgage payment, relief options are available.

  • Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months

  • Homeowners in a forbearance plan will not incur late fees

  • Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended

  • After forbearance, a servicer must work with the borrower on a permanent workout option to help maintain or reduce monthly payment amounts as necessary, including a loan modification

  • Foreclosure sales and evictions of borrowers are suspended for 60 days

Source: https://bit.ly/2J6g4gN

A forbearance is helpful if you have an income still but cannot make your housing payment, however suspending your housing payment doesn’t give you access to your equity which you may need for basic needs in the event you don’t have an income or cash reserves.

Home Equity Line or Cash Out Refinance

A home equity line or refinance is a great way to convert the equity in your home into cash you may need. This like many other types of credit are much more readily available WHEN YOU DON’T NEED THEM. To take advantage of this option you must be proactive. If you see the potential for job/income loss it is advisable to seek these options today while you still have your job and income. During the process of refinance a lender will conduct a Verification of Employment all the way up to the day prior or a few days prior to close. If you wait until you have lost your job/income, they won’t likely allow you to turn your equity into cash via a refinance or line of credit.

This leads us to our last resort in the event of job/income loss, our new, COVID-19 Equity Preservation Listing. 

COVID-19 Equity Preservation Listing

This is a flat fee, full service listing for Seller’s that need to sell their home to access their equity for living expenses. This program will last until July 1st 2020 and is limited to 10 listings. This plan is largely digital and includes the world class marketing our clients are used to with a few additions and modifications for the current environment:

  • Candidates for the COVID-19 Equity Preservation Listing will be asked to complete an online survey and provide proof of hardship relating to COVID-19.

  • Listings will be a FLAT FEE AND FULL SERVICE starting at $750 with ala-carte add ons at cost to $1,250 and will include the following:

    • World Class Photography

    • Matterport 3D Virtual Tours (Providing Buyer’s the most realistic 3D virtual tour)

    • Digital Staging

    • Supra Lock Box for Secure Access 

    • Listing in  the MLS & Syndicate Sites such as Zillow.com and Realtor.com

    • ShowingTime Scheduling via App for Seller’s Instant Approval

    • Contract Negotiation

    • Contract to Close Management

    • 1x Pay-Per-Click Marketing Campaign (2 weeks of ad spend)

    • The Most Advanced team of Closers/Attorney’s to assist in navigating closings and law regarding COVID-19. 

    • Video Market Updates & COVID-19 Guidance

As you can see above, Jody and I are donating our time and subsidizing a large portion of our cost while still providing world class service to a limited number of Sellers that experience job/income loss and have no other options to access equity or provide basic needs for their families. Our ultimate goal is to keep those that want to remain in their homes and we are happy to help guide you through your options to do so. For more information on this program, to discuss your options or to receive a link to the online survey for candidates, please email Brett@PropertyReveal.com