What-ifsAnswers about remodeling projects,home
maintenance, and selling before the third year.

Remodeling adjustments

When and how do they work?

Remodeling can turn an average home into a place that makes you want to throw a dinner party every Friday. And, of course, it doesn’t hurt that it increases your home’s asking price when you decide to sell it. So you’ll probably be happy to know that under our Agreement, any increase in your home’s value attributed to your remodeling work, is entirely yours. As it should be. We ensure this through something called the Remodeling Adjustment.

It works like this:

Before or after you remodel, just let us know you want a Remodeling Adjustment and an independent third‐party appraisal firm to do an assessment of your home. This person will decide how much of the home’s increase in value is attributable to remodeling. Note: The cost of a remodeling project is not one and the same with how much your home’s value increases. For example, if adding a new bedroom and bath costs you $40,000, it’s possible your home’s value may only increase by $30,000.

Keep in mind:

You’ll need to submit clear, detailed photographs of your property in its original condition before the remodeling work so don’t forget to document your before pics! Learn More These photos need to be varied (including detailed shots as well as wider scope ones) so that the appraiser can visually compare the previous condition of the property with the current one. If the appraiser reasonably finds your photos are insufficient to make an assessment, Unison will unfortunately be unable to provide a Remodeling Adjustment..

Remember, in order to qualify for a Remodeling Adjustment, be sure to follow certain protocol, such as using licensed contractors, and getting applications for the proper permits within your county/city.

Please note that while you can remodel your home at any time, if you sell your home before the third anniversary of your Unison Agreement, you will not be eligible for a Remodeling Adjustment.

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Deferred maintenance adjustments

During your Agreement with Unison, we trust that you will keep your property in good condition. While we obviously anticipate there will be some wear‐and‐tear (we know children, and some adults for that matter, aren’t always gentle), excessive damage and deterioration aren’t expected. That’s where something called a Deferred Maintenance Adjustment comes in. Deferred Maintenance Adjustments are made in cases where a loss in property value is due to poor upkeep. In instances like this, the property’s loss in value is added to the sale price. For example, if a client sells their home for $400,000 and an appraiser determines that the value of the home is $30,000 less than it should be because of extensive termite damage, Unison would make a Deferred Maintenance Adjustment and increase the sale price by $30,000 to $430,000.

Note: The amount of the Deferred Maintenance Adjustment is always decided by one or more third‐party appraisals, inspections, or repair estimates. Typically, no Deferred Maintenance Adjustment will apply unless the cost of repairs is at least $5,000. Learn more about the Deferred Maintenance Addendum.

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What if I decide to sell early?

Sale within the 3 years of the start of our agreement

Since your home is yours, you are always free to sell it at any time during your Agreement with us. However, as we mentioned earlier, we recommend clients only sign a contract with us if they plan to stay in their home at least three years. That’s how HomeOwner was designed to be used, as the major advantages of working with us kick in after the third year.

We know plans change though, so if you find yourself needing to sell before the third year, you can do so. In this case, everything would proceed as usual unless the home’s value has gone down or you have done any remodeling.

If your home value has declined, Unison does not share in any of this loss, and you will owe Unison the full value of the original Unison Investment Payment, regardless of the loss.

If you have remodeled your home and sell within the first three years, you will not be eligible for a Remodeling Adjustment.

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To start, how do I choose
how much I want?

how it works

Learn more about our guidelines while we are in agreement together:

GENERAL GUIDELINES

We want you to make the best decision for you and your family. And while we do our best to explain everything, we highly recommend you carefully review the Unison HomeOwner Agreement, the Unison Legal Documents, and other materials available online. It’s a good idea to do this with family members, as well as with your legal and financial advisors. In fact, we advise you to do so. Your program specialist will be happy to provide you with all the documents necessary.

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