What is a Selling Bonus?

When selling a property co-owned with Ourboro, closing costs are generally the co-owner’s responsibility. However, a Selling Bonus can help offset some of these costs. If the property has experienced a cumulative year-over-year appreciation of 7% or greater, the co-owner will receive a larger share of sale proceeds as a bonus that can go toward covering closing costs.

Why is this term important?

A Selling Bonus is important as it provides Ourboro co-owners incentive to preserve and maximize resale value in their properties, while also lowering the co-owner’s closing costs.

This is an added benefit of professional co-ownership, as this bonus would likely not be built into a co-ownership agreement between two, or more, individuals.

Here is an example:

Let’s say we co-buy a home for $1,000,000 and five years later you sell the home for $1,450,000. In this case, the home has appreciated more than 7% year-over-year, so Ourboro may provide a Selling Bonus equal to at least 0.5% of the total sale price, in this case $7,250.