Regardless of income or credit, Curbio.com defers payment for pre-sale home repairs and relocation until your home is sold
BETHESDA, MD – Curbio.com LLC, a Bethesda, Maryland-based home improvement general contractor, is preparing to launch a unique, game-changing service that will enable struggling homeowners who need to sell their houses to refurbish them now and pay for the work after they sell and collect their proceeds. The service is intended to enable homeowners to their homes at full price rather than selling them “as is” at a discount to bargain hunters or house flippers. Payment for the repairs will be deferred until homes are sold and proceeds collected, without consideration of the customer’s credit score and income. The service will be available to Maryland and Virginia homeowners beginning in September. Other markets will be added nationwide beginning next year.
“Too many homeowners leave tens of thousands of dollars on the table when they sell their homes, simply because they can’t afford to fix them up and properly stage them,” said Matt Siegal, co-founder and CMO of Curbio.com. “By letting our customers pay us for repairs after they sell their homes, Curbio.com saves them from selling “as is” and watching a bargain hunter or flipper walk away with the equity they’ve worked years to build.”
Most unusual about the Curbio.com business model is its financing terms. MSP offers 100% financing with no payment due until settlement regardless of the customer’s income or credit score.
“Homeowners with significant potential equity shouldn’t have to sell at a discount just because they don’t have cash, available credit, or an income. Our view is that they do have money to pay for repairs, they just can’t get to it until they sell,” Matt Siegal added. “Once we refurbish their home and they sell it for its true worth, they’ll be able to pay for the repairs and have money left over to get back on their feet.”
Curbio.com, as general contractor and project manager, hires carefully vetted local subcontractors from its preferred vendor network to get its customers’ homes in shape to sell quickly at full price based on their realtor’s recommendations. Painting, electrical, HVAC, updated bathroom ─ whatever it takes. If requested, the company also arranges temporary furnished housing while repairs are made. All costs are deferred until settlement regardless of the client’s income and credit score.
The company’s website, www.Curbio.com, has a Fix vs. Selling As Is Comparison Calculator that estimates the amount of proceeds sellers will have if they fix before they sell. The difference between the two options can be tens of thousands of dollars.
“What makes our business model unique is that we assess credit risk based not on the customer’s current ability to pay for our services but rather on what we believe his ability to pay will be after we’ve restored his home and he’s sold it for its full potential worth,” added Matt Siegal.
Although no cash, income, or minimum credit score are required, the company does have certain requirements for accepting projects. For example, it doesn’t accept “sale by owner” projects. Sellers must have an active listing agreement with a licensed real estate agent before their projects will be accepted.