The Joint Venture (JV) Sale Option
If the buy-back option isn't right for you, you may instead elect to list and sell the home with us — and share in the net sale proceeds on a written split.
What it is
- During a written election period (commonly 9 months from the transfer date), you may notify us in writing that you wish to sell instead of exercising the buy-back option.
- The home is listed on the terms set forth in the JV / Sale Option Agreement — initial price, scheduled reductions, and a defined minimum acceptance threshold.
- At closing, Net Sale Proceeds are calculated and split between you and the company on the percentages stated in the agreement.
What "Net Sale Proceeds" actually means
Net Sale Proceeds is the gross sale price less, in order, all of: mortgage payoffs, other liens, prorated taxes and insurance, utility/repair/maintenance costs, property preservation, closing costs, broker commissions, title charges, seller concessions, legal fees, carrying costs advanced by the company, and any reimbursements owed under the lease or buy-back agreement. The agreement spells each category out so you can verify.
Why a homeowner may consider it
- May preserve some upside after foreclosure pressure has ended.
- May allow an orderly market sale instead of a forced courthouse auction.
- May give you a runway to transition.
Important risks
- There is no guarantee of any sale price.
- Expenses reduce net proceeds — sometimes to zero.
- Market conditions can change between contract and closing.
- You should review tax, legal, and (if applicable) bankruptcy consequences of a JV sale with your own advisors.
This website does not provide bankruptcy advice and is not legal advice. Every JV / Sale Option transaction is subject to underwriting and a written agreement. You are encouraged to consult independent counsel and a HUD-approved housing counselor. There is no guarantee of sale price or proceeds.