It's a program that allows sellers to borrow a portion of the equity in their current home to make improvements to the property in anticipation of listing it for sale. The Windermere Ready advance is structured as a loan to be repaid when your home sells or when the loan term expires, whichever comes first.

Windermere Ready advances are typically used for items like landscaping, painting, floor refinishing, carpet replacement, decluttering, window washing, professional deep cleaning, fixture repair or replacement, cosmetic updates, punch list repairs, or staging.

It absolutely can.

As home owner, you determine what prep work you wish to apply your Windermere Ready advance to, after consulting with your broker about which items will make the highest impact when we bring your home to market.

You do. Your broker can recommend local providers and can also help you schedule services if needed, but you'll be in charge of determining the work you'd like performed on your home and who you want to work with.

The maximum advance amount is $50,000.00. The loan to value ratio or "LTV" (total of all debt secured by your property, including the Windermere Ready loan), may not exceed 75% of your property's current fair market value.

Fair market value will be established by a comparative market analysis (CMA) that your broker prepares for your property and which you accept as reasonable.

The maximum loan term is six months. There are no monthly payments, but the loan must be repaid in full when your property is sold, or when the loan term expires, whichever comes first. The loan must be paid in full at the end of the loan term even if your property has not yet sold.

A loan fee of $495.00 per $12,500.00 requested up to the maximum loan amount of $50,000.00 is deducted from the loan proceeds at the time of funding. Borrowers pay a title insurance premium, credit report fee, recording fee, and sometimes a courier fee, all of which are deducted from the loan proceeds at the time of funding.

The Windermere Ready loan is interest-free.

The only documents required for you to fill out are a three-page loan application form and a listing agreement, and you'll need to sign off on the CMA that I prepare to establish your home's fair market value.