![]() When home shopping, there are a few warning signs that a home might not pass the Divvy Home Quality Evaluation. We want your home to be in great condition before you move in. Homes with unfinished rehabilitation work, liens, and/or open permits.Homes with known hazardous materials (e.g.Homes that back up to or are directly next to a commercial entity.Homes that back up to or are directly off of a major highway.This applies to the subject or neighboring properties Defined as fixed pieces of wood or other sturdy material covering a window surface area that eliminates visibility or access to the interior of the home. Boarded Windows (applies to subject or neighboring properties).Homes with an existing lease in place where the lease end date is beyond the acquisition close date.Homes with oil tanks or that use propane as the primary heating source.Exceptions can be made if the home has the following: owned solar systems and/or systems paid off at close of escrow by the seller. Homes with a door on a raised level must have a balcony, deck, staircase, or railing built on the exterior.Exceptions can be made if the home has the following: street parking Homes with an unpaved driveway and/or unpaved access road.If seller is in an approved leaseback, seller may take appliances at the end of the leaseback Homes must be free and clear of the seller’s personal belongings at close of escrow. ![]() Homes without central air conditioning (exceptions may apply in CO, MN, and OH).One-bedroom homes homes must have at least two above-grade bedrooms.Please check townhouse eligibility here.Condominiums or townhomes under condominium ownership.What properties Divvy will not buy Sale Type restrictions: All new construction homes must have central air conditioning.Comparables must be ± 10% GLA (gross living area = total area of finished, above-grade residential space excluding unheated areas such as porches and balconies) of home, with comparable upgrades, within the same development.There must be at least 2 finished homes sold, within the same phase of the development, both within the last 6 months.Construction must be completed within 90 days from contract bound date.Development cannot have rental restrictions.Note: resident is required to pay the entire EMD amount as a non-refundable deposit before an offer is sent Earnest Money Deposit (EMD) cannot exceed $15,000.Buyers Agent to confirm status directly from the builder via intake form.Homes located in one of our approved areas.Homes with at least two above-grade bedrooms on less than 2 acres.Divvy does not purchase condominiums or townhomes under condominium ownership please check townhome eligibility here.Single-family detached homes or fee-simple townhomes (i.e.Homes priced within our approved price bands.What properties Divvy will buy Standard requirements: Those sellers are more likely to accept more conservative offers. Our offers are just more likely to be accepted when the home is priced under $350k.ĭue to the nature of our bidding strategy, it is likely more prudent to extend offers on homes that have been sitting on market for longer periods of time (+30 days). We are having the most success winning homes that are priced at $350k and below. We realize this shift presents a more narrow window of opportunity for acquisition and we wanted to clarify guidance around best practices for our clients and partner agents. Essentially, the home must be a good investment for both the customer, and Divvy, as our primary interest is to ensure the ongoing and long-term success of our customers.ĭue to the rapidly changing market conditions, Divvy is generally bidding 10-20% below list price to ensure the customer can buy back the home when they are ready. Want to know whether you'd be a good fit for the Divvy program? Check out our qualifications and requirements.Īny home a customer wants to put an offer on must fit within the Divvy pricing model. What happens during the closing when I purchase the Divvy home? What happens to my Divvy savings, home value, and rent payments during the purchase process? What are the lender and title company requirements when purchasing the home from Divvy? How do I get ready to purchase my Divvy home? What is the closing process for a Divvy Home? ![]() How does home maintenance with Divvy Homes work? How do I manage my payments and home savings? What is the inspection process for a Divvy Home?
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