Blanket Group of Companies provides the “CASH DEPOSIT” your purchaser’s require in order to bind a sales contract so they can buy the home they want!
Higher listing prices paired with higher mortgage rates are quickly making buying a new home unaffordable for many, pricing them out of home ownership. While higher prices and higher rates affect all potential homebuyers, those entering the market for the first time are finding the situation especially difficult. Stagnant wage growth coupled with inflation has increased the cost of living, so many are finding it difficult to save for a down payment. Many can still afford the monthly housing costs associated with buying a new home but struggle to come up with the initial down payment, pricing them out of home ownership and preventing them from building the kind of financial security that comes with homeownership.
Whether you’re building high or low-rise condos, townhomes or commercial condo’s this program is a must!
Faster pre-sales means more sales, quicker construction starts avoiding costly delays. This program also allows developer’s to access to more Purchasers’ Deposits as a source of financing the construction, lowering the overall financing cost of the project and increases the success and profitability!
Blanket has the Key to Homeownership and Blueprint for Success as Developers WIN – Purchasers’ WIN – Lenders WIN!
IGNITE YOUR PRE-SALES
Faster pre-sales means faster lender advancement, less costs associated with marketing and construction delays. By asking for more security from your purchasers without being costly – you lock in your purchasers so they don’t walk away from your project at closing.
WE THINK OUTSIDE THE BOX
With a good location, good price point, good marketing, and Blanket’s Homeward Bound Program we are able to achieve these levels and have many services that help developers to succeed.
HOW IT WORKS
Blanket’s Homeward Bound Program helps purchasers come up with less of a cash deposit (only 5%) as opposed to the full 20% to 25% required by developers for them to achieve true presale status with the lending institutions so that the bank to commits to the project. Blanket then provides the remaining money for the purchaser that satisfies the bank’s requirements as a full deposit.
THE HOMEWARD BOUND PROGRAM IS A WIN-WIN FOR EVERYONE
By asking a purchaser to come up with less of a deposit but still retaining the required lender’s security from your purchasers without being costly, you lock in your purchasers so they don’t walk away from your project at closing. There is no obligation to the developer or the lender to collect if a purchaser decides not to close, the developer simply has the opportunity to resell the unit for a higher price once completed.