Trade In Your Home
Let's trade places...
What kind of homes may be eligible to be traded in?
All single family homes in North Alabama are eligible.
How does the process work?
A purchase agreement is created, which is contingent upon a successful meeting between the purchaser and Investor. The purchasers property is then subject to a market evaluation to assess the probable market value, condition, and eligibility of the proposed trade home. If the home is determined to be eligible for a trade, an offer will be made for the property within 48 hours. If an agreement is reached with the owner, a trade contract will be executed on the owners current home.
How is the sales price of the trade home determined?
An offer on an eligible trade home that represents 90% of the estimated market value of the home, as determined by the market evaluation.
Is the market evaluation the same as an appraisal?
No. The market evaluation is not the same as an appraisal, which is a more formal process performed by a certified appraiser to establish the value of a property for a lender.
Is a commission paid on the trade?
Neither the homeowner nor Woodland Homes pays a commission on the traded home. The homeowner must be free of any obligation to a realtor to pay commission on the sale of the home for the property to be eligible.
How long does the market evaluation and offer process take?
Once the contract is accepted, the market evaluation can be completed and any subsequent offer can be made within just a few days. The homeowner has 48 hours to respond to an offer from an investor.
Can a spec home be purchased using the Trade Program?
In most cases, the trade-in program works with a presale. When an offer is reached, a simultaneous closing takes place upon the completion of their Woodland Home.
What happens to homes that are traded in?
They are offered for sale by a real estate company.
To find out if your home is eligible for our Trade Program, see a Woodland Homes specialist at one of our communities.
