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Creating a co-ownership interest in your existing home allows you to continue using and enjoying your vacation home, while receiving some liquidity on the sale and a worry-free ownership experience. If you love your home but are not using it enough or would like to reduce the costs to maintain it, co-ownership may be a great opportunity for you.
Savvy re-titles your home in the name of a property-specific LLC. Once the transaction is complete, you will own an interest in an LLC, up to 50%, and the remainder of the home will be sold to Savvy buyers. This allows you to cash in on the market, at a premium to your home's fair market value, while enjoying the benefits of a fully serviced Savvy home.
Savvy's design team reviews each home. If the furnishings are to remain with the home and are a fit for Savvy, we will purchase the furnishings from you. If not, the home will be completely decorated and furnished after closing.
After the first 12 months, you can sell your interest in the property at any time. It works just like a typical real estate transaction. You will work with a real estate agent to market the home, just like you would for any home sale.
It depends on the market and the home. Please contact us and we can provide a better assessment of expected timelines.
We look at each applicant to a home and ensure the home is a good fit for them and other co-owners. All owners agree to a common-sense owner code of conduct.