Below is the general process for Landed homeowners seeking to end their partnership:
Note: Due to a temporary unavailability of DPP investment funds, all Landed metro areas are being put on a DPP waitlist effective September 8, 2022. You can read all the details (including FAQs) here if you would like to know more.
Giving Landed Notice
It is our job to help Landed homeowners maximize the value of their home. Therefore, when you’re thinking of selling your home, you will need to notify us prior to putting it on the market. We ask for notice so we have ample time to prepare and provide guidance if needed.
Standard Sale
After being notified, we’ll need to confirm the type of sale you’re conducting. We consider a Standard Sale to be the following:
- A local real estate agent is used with experience in the area
- The home is listed on MLS at least 14 days before an offer is accepted
- At least two open houses are held
- The home is not sold to a friend or family member
Note: You are not required to conduct a Standard Sale to end the Landed partnership. Choosing a different type of sale just means that we will use the same process as if the partnership ended without selling (see next section).
Ending the Partnership Without Selling
There are two primary ways of ending a Landed partnership without a sale:
- Obtaining new or additional financing (e.g., refinancing)
- Or through a cash settlement
If you’re thinking of using the above methods to end the partnership, or because the Landed term is expiring, you must notify us so we can walk you through that process.
Bonus: With enough notice, we may be able to give valuable tips on arranging new financing.
Assessing the Home’s Value
Following confirmation of the type of sale, we will appoint an independent, qualified appraiser to assess the home’s value.
Qualified appraisers are persons who, during the preceding two years, have appraised at least 10 residences located within five miles of the Property* on behalf of a licensed financial institution. *For a Hawaiʻi Property: within the state of Hawaiʻi.
Getting the Offer Approved by Landed
When you’ve received an offer that you intend to accept, your agent will share that offer with us. From there, we will review it to make sure it meets our Standard Sale criteria (noted above).
Once the offer has been approved, we will send you and the escrow company a final closing package containing instructions and final amounts for ending the partnership.
Closing the Sale
You will receive escrow instructions for closing the sale. As part of those instructions, Landed will agree to close the partnership when the funds are released from escrow.
Should you have any questions about the process, please reach out to customer@landed.com.