How Does Savvilla Work?
Savvilla helps second home buyers find a compatible co-purchaser to co-own a second home as Tenants In Common (“TIC”). Each home has a comprehensive home-specific operating agreement that ensures a rewarding co-ownership experience. After successfully matching two new co-owners, Savvilla assists in the implementation of a reliable system that enables co-owners to easily organize their use of the home with minimal hassle. Each co-owner has an equal 50% interest in the home and is able to sell their share at any time independently of the other, just as they would a whole home.
OVERVIEW
HOW IT WORKS
FOR BUYERS
Buying Half Of A Second Home
There are three scenarios where you can become a co-owner in a second home that qualifies for the Savvilla program. Each of them are similar to purchasing a home as you normally would. Licensed real estate agents coordinate the real estate transaction itself while Savvilla assists in coordinating the essential elements of a successful tenancy in common for a second home co-owned by two families.
When It's Time To Move On
The operating agreement prepared for each home is written with future buyers in mind. By design, it will enable you flexibility in the marketing process while also giving your co-owner a fair opportunity to purchase your half at the price you decide on.
RESELLING HALF
FINANCING
Tenants-In-Common Financing
Financing is an option when buyers enter into an agreement on equal terms. This is highly dependent on being paired with a compatible buyer considering a second home in the same area with a similar budget.
FOR SELLERS
Selling Half Of Your Second Home
The process for selling half your second home is almost identical to selling the whole home. You set your price, pick an agent, and pick your market. But when it’s over, you still get to enjoy your second home and the perks of renting or exchanging it for travel around the world via THIRDHOME.
HOW IT WORKS
EXCHANGE
THIRDHOME
The process for selling half your second home is almost identical to selling the whole home. You set your price, pick an agent, and pick your market. But when it’s over, you still get to enjoy your second home and the perks of renting or exchanging it for travel around the world via THIRDHOME.
