Summary:
In this episode of The Perfect Property, Juli welcomes John Fountain as her guest. John has been in business in Atlanta for 20 years and currently works with a company called Homeward. Even during the pandemic, the Atlanta housing market is booming. Many people find themselves in the dilemma of having sold their house before they’ve bought their next house.
Homeward offers a convenient buy-before-you-sell solution and John tells Juli the ins and outs. The consumer goes through an internal approval process before using Homeward’s cash to make an offer on a house they love. When their offer is accepted, Homeward closes on the house and the client moves in — all before selling their previous home. Once it does sell, the consumer simply buys their current house back from Homeward.
Homeward currently operates with certified agents in Denver, Atlanta, and four cities in Texas. Their service can also be used by anyone selling a home elsewhere and moving to one of those six cities. John himself was a Homeward consumer and he tells Juli about his experience as a home buyer and seller.
To wrap up, John discusses Homeward’s upfront fees (the convenience fee and rent for the time Homeward owns the house) and what makes his company different from other services.
What You’ll Learn:
· Today’s guest, John Fountain (0:56)
· Helping buyers and sellers navigate the booming market (1:57)
· The “buy before you sell” solution that Homeward offers (5:24)
· Who can offer this type of program? (7:24)
· Where does Homeward work? (8:15)
· Does Homeward work for purchasing secondary homes? (9:00)
· John’s experience as a Homeward consumer (10:45)
· How much are Homeward fees? (12:14)
· Why are they some of the only ones doing this? (15:15)
· How is Homeward different? (16:10)
Key Points:
“Inventory was already low before the pandemic and after the pandemic obviously it’s even lower.”
“If it’s staged right and it’s priced right, houses are selling within six days on average.”
“It’s a buy-before-you-sell solution… The consumer goes through an internal approval process. Once they’re approved, they go out and they use our cash to make an offer to buy their next house. Once that offer gets accepted, Homeward then closes on the house and the client moves right in and once they move in, they get to list and sell their house… Once they sell that house and close, then they buy the house back from Homeward.”
“There are only two costs to use the product. One is a convenience fee and then they actually pay rent on the time that Homeward owns the house.”
“Convenience fee is going to be rolled into the mortgage… If they use Homeward mortgage, it’s 1.4% of the purchase price and if they decide to go with their own lender, which we welcome them doing, it’s 2.4%.”
“We actually guarantee the sale of their house.”
Links:
Homeward https://www.homeward.com/
Juli’s Email: juli@theperfectproperty.com
Juli’s Phone Number: 404-668-8975 (call or text)
The Perfect Property Website. www.theperfectproperty.com
Instagram: @julistgeorge
Facebook: The Perfect Property
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