Renovation Sells, Chicago’s pre-sale renovation experts, is announcing a partnership with Guaranteed Rate to offer upfront financing to homeowners through a personal loan product, Marcus by Goldman Sachs. Through the new program, homeowners will be able to fund renovations designed to boost the market appeal of their home prior to listing it. The new financing option is part of Renovation Sells’ turnkey service, which includes planning, designing and delivering high-impact cosmetic improvements that maximize returns for home sellers.
“Our goal is to make every home Instagram-worthy,” said Michael Valente, managing partner for Renovation Sells. “To that end, we work with the original space, rapidly making minor renovations that have a major visual impact. Being able to offer this high-value service, now with an easily accessible payment option, to help our clients’ listings move quickly and for the highest price continues to excite us.”
With an innovative business model offering one-stop service, Renovation Sells is the only pre-sale renovation firm to offer customized designs from an accomplished interior designer that are specifically tailored to the home’s target buyer, as well as equity-free short-term financing that is not tied to a specific listing agent’s brokerage firm or the sale of the home. The firm’s high-quality design-focused renovations aim to yield a major visual impact at an approachable price point that will enhance a home’s appeal to buyers, reduce its time on the market and increase its overall sales price.
“We are excited to partner with Guaranteed Rate to offer this new financing tool for our clients,” said Valente. “With one phone call, a Renovation Sells client can set in motion a stress-free plan to identify, design and deliver thoughtfully curated home renovations that have been proven to increase returns. And, our team of professionals can be in and out in less than 21 days with most projects.”
By offering a seamless and almost entirely virtual credit screening process, Guaranteed Rate’s Marcus by Goldman Sachs personal loan product can be made available to applicants at better interest rates, with quicker turnaround times and fewer loan underwriting costs than traditional brick-and-mortar lenders. As Marcus personal loans are issued by Goldman Sachs Bank, Guaranteed Rate charges no sign-up or origination fees to the borrower and can facilitate a quick payout, usually in five days or less.
“Guaranteed Rate’s Marcus by Goldman Sachs personal loan product is perfect for small to medium-sized projects like those offered by Renovation Sells,” said Joel Schaub, vice president of mortgage lending at Guaranteed Rate. “Homeowners can now fund a pre-sale renovation in a few simple steps, and without the hassle of a home inspection. We look forward to working with Renovation Sells to integrate seamless financing into their suite of services.”
For more information on Renovation Sells, visit https://www.renovationsells.com/.
For more information on Guaranteed Rate’s MARCUS loan product, visit https://www.rate.com/marcus.
About Renovation Sells:
Founded in 2018 by construction industry veterans Michael Valente and John Bura, Renovation Sells is a Chicago-based company specializing in minor residential renovations for homes being placed on the market for sale. Working alongside Realtors and home owners, the firm offers a turnkey solution to complete essential interior upgrades to position a home to sell at a top price and eliminate long market times and future price reductions. The firm’s list-to-sale ratio tops 97% and the average project takes 21 days, costs approximately $20,000 and sells within 28 days of being on the market. Renovation Sells completed more than 50 renovation projects during its first year of operation, and is on track to complete another 90 renovations in 2019.
About Guaranteed Rate Companies:
Guaranteed Rate Companies, which includes Guaranteed Rate Inc., and Guaranteed Rate Affinity, LLC, has over 5,000 employees in a total of 700 offices across the U.S.—funding nearly $24 billion in 2018 alone. Headquartered in Chicago, Guaranteed Rate Inc. is one of the largest retail mortgage lenders in the United States. Founded in 2000 and licensed in all 50 states and Washington, D.C., it has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. 2017 marked the launch of Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and Realogy Holdings Corp., a global leader in residential real estate franchising and brokerage. Collectively, the companies have earned honors and awards including: “Top Lender for Online Service” for 2018 by U.S. News & World Report; No. 3 ranking in Scotsman Guide’s Top Retail Mortgage Lenders 2018; Chicago Tribune’s Top Workplaces list for seven consecutive years; and Best Online Lender and Best Lender for FHA Streamline Refinance by NerdWallet in 2019. Visit rate.com for more information.
This pre-renovation kitchen from a single-family home in Southport exemplifies the dated design style carried throughout the home, which included dark brown tones, black countertops, and bronze hardware.
The Renovation Sells team modernized the design of the Southport home with new countertops, backsplash, lighting and painted cabinetry in the kitchen, along with refreshed wall colors, painted wood trim and refinished flooring throughout the 3,800-square-foot home. This $50,000 renovation project was completed in 4 weeks and sold in 30 days.
This pre-renovation master bathroom in a home in River North includes dated tile, countertops, cabinetry, lighting and hardware.
The design style of the renovated spacious master bath is on point with crisp white tile and countertops, sleek cabinetry and a freestanding tub. A renovation such as this would typically take 21 days at a cost of $20,000.