Frequently asked questions

• Real estate experts carefully evaluate your home who specialize in your market. Using their knowledge, combined with Fello's proprietary evaluation and predictive market analysis technologies, Fello is able to provide our customers with data-driven and competitive offers.
• Every offer is backed by a combination of local real estate expertise and the most current market data. We take hundreds of factors into consideration, including:
• The information you submitted about your home and its special features and upgrades (Photos can be really helpful)!
• Current local market trends like home price appreciation or depreciation.
• Recent sales of similar homes (a.k.a "comps").
• First, we find homes within a half-mile of yours with similar features and use them as a baseline for your home's price. Then we make line-item adjustments. For example, if your home has granite countertops and the comparable home doesn't, we'll credit you for the upgrade.

Sellers are responsible for certain closing costs—just like any traditional sale. These fees may include title insurance, escrow fees, HOA transfers, taxes, document transfers, and other customary fees. These fees differ based on the market and range from 1% to 3% of the purchase price. The Fello team is always willing to help you work with the title company or attorney's office handling the transaction to get an estimate of your net proceeds.

• The home values found on sites like Zillow, Trulia, Realtor.com, and Redfin, are determined by computer-generated algorithms. Those values are limited by the data available to them through public records. They look at the market's history, not where it's going.
• While our offer is not intended to be an appraisal of any kind, it is a real and actionable offer and is based on careful analysis by our team of real estate experts. We take time to evaluate and understand your home's unique features and condition in the context of the market's inventory and future supply.

• Fello aims to offer a fair market value for your home and takes a single service charge of between 5-14%, enabling us to provide a streamlined experience from offer to closing. Fello allows you to skip the hassles of listing your home.
• Once we buy and list your home, we'll need to pay all the typical transaction costs that come with selling a home—including a commission to a buyer's agent (3%), concessions to the buyer, holding costs, maintenance fees, taxes, and other costs to list and market the home.

Sellers who sell to Fello directly skip the costly preparation, frequent showings, and months of uncertainty with the traditional process. Instead of listing your home on the market and waiting to find a buyer, Fello purchases your home from you. You also get to choose your close date to avoid expensive double-moves, double-mortgages, and storage units. Fello aims to make a competitive offer for your home and takes a single service charge that enables us to provide a streamlined experience from offer to closing. The amount typically falls between 5-8% and goes no higher than 14%. Our service charge also helps us cover costs like maintenance, utilities, and taxes while we're holding the home so you can move on to what's next.

The team works hard to ensure that our initial offer is fair and has a competitive market price. However, if you feel that we've missed something about your home that affects our offer – we want to know. Please feel free to contact the Fello Home Advisor mentioned in your dashboard for every deal, and we'll be happy to re-evaluate your property.

We want to make you an offer that is as accurate as possible, so if you forgot to include any vital information—such as upgrades—please let us know. Our dedicated Home Advisor will be happy to reassess the details of your offer with you.

We want to know about the renovations you've done to your home. We're happy to give you an offer based on the improvements so you can sell your house for top dollar. It's best to provide multiple photos of the modification to provide you with a reliable estimate.

You officially accept our offer by signing the purchase agreement. Once Fello, you (and any other sellers) sign the agreement, we are officially under contract.

Fello makes it easy to sign your documents online using PandaDoc for electronic signature.

No worries. You can simply select the closest date to your best guess. We will send you an addendum to adjust the closing date when you've determined your final closing date.

Yes. The Fello team will perform a free, on-site inspection of your home within 15 days of the signed agreement. The purpose of the appointment is to verify the home's specifications, condition, and identify repairs that will need to be addressed prior to closing.

Either a Fello team member or licensed property inspector (or both) will perform the inspection. If specialists are needed, we will partner with licensed contractors to provide additional insight and expertise and work with you to coordinate the scheduling of all property inspections.

Fello will need access to your entire home during our inspection. When your inspection is scheduled, we will provide you with a guide that will help you prepare for the inspection and an overview of the most common items we evaluate during the inspection process.

• If our inspection reveals needed repairs, your client will have the following options:
• Provide Fello with a credit. Due to our volume and in-house resources, we can keep required repair credits to a low and reasonable price point. Your client would sign an addendum to the contract to move forward with this option. This solution means no money out of pocket or work done by you. This is the most popular option by our sellers.
• Make the repairs before closing. You/Your client can hire a licensed contractor to make all the required repairs before closing. Fello will provide you with a list of necessary repairs, and it would be up to you to ensure all items are completed to current building codes. Fello will need proof of the completed work, contractor's name and license number, before and after pictures, receipts, and visible approval by Fello during the final walkthrough.
• Decline to make any requested repairs or issue a credit. Fello can then choose to cancel the contract or may determine that it still wants to move forward with the purchase of the home. If Fello elects to cancel the contract, there is no penalty to either party. Keep in mind that these repairs will most likely have to be addressed regardless of whether your client sells to us or tries to sell traditionally.
• In some circumstances, the repairs required on your client's home may be significant and need substantial funds to complete or special expertise to manage. In these cases, rather than add unnecessary stress to our customers, we will offer the option of credit only.
• In all the above cases, we would request your assistance at this time to convince the client regarding the repairs or credits.

Fello typically performs our final walk-through of the home after you've moved out of your home. The walk-through confirms that all personal property has been removed and that the home's condition hasn't changed since we went under contract. The property must be clear of personal belongings and trash for the closing to occur as scheduled. Additionally, the property must transfer to Fello in the same condition as when we entered into contract, including landscaping and pool maintenance. If you elect to perform repairs through a licensed contractor, the Fello representative will confirm that the repairs have been made. This is a short appointment and should take no longer than 30 minutes to complete; if you can't attend the final walk-through, that's no problem.

• Homes with no Point of Sale: 11 business days
• Homes in a Point of Sale: 21 business days

We are happy to work with you with a closing date up to 60 days from your signed contract date. As your closing date approaches, please let your Concierge Specialist know, and we will send you an addendum to your purchase contract if you need the date adjusted. If you find that you need a closing date beyond 60 days, we may be able to work with you on a case-by-case basis.

When Fello purchases a home, we use Ohio Real Title. The title company ensures the title is legitimate and then issues title insurance for that property. In addition, they maintain the escrow account for the transaction and handle the funds for the transaction, including the earnest money deposit from Fello, payoffs to mortgage companies, HOA dues, and any other transaction funds.

Yes, we can adjust your closing date at any point throughout the selling process. You have up to 60 days to close on the sale of your home to Fello, and we can adjust this date within this period to your schedule.

Yes, Fello allows you to stay in your home for up to three days after closing. This program helps sellers avoid the rush of having to close and move in one day. Fello hopes to relieve much of the stress associated with selling and moving. Sellers taking advantage of the extended-stay program must sign a post-possession agreement. There is no cost for this service, but specific details apply.

The title company or attorney office handling the transaction will send the final payoff payment to your lender, the remaining funds (less closing costs) will be wired to your bank account.

The title company or attorney's office handling the transaction will schedule a convenient time for you to sign the closing documents. Typically, the closing occurs at the title company or attorney's office, although you may also request a mobile notary come to you. The date this happens is called the closing date or close of escrow. The sale is recorded on public record on your closing date, and the funds are distributed. This varies depending upon the state you live in and the time of day you sign your documents

The home must be clear of all personal belongings and trash at least 24 hours prior to closing. Additionally, the property must transfer to Fello in the same condition as when we entered into contract, including landscaping and pool maintenance. Fello will verify the condition of the home before closing. If the house is not clear of personal belongings and/or trash or the property is not in the same condition as when we went under contract, your closing may be delayed.

The typical practices are the washer, dryer, refrigerator, stove, and dishwasher.

You will need to leave any built-in appliances, keys, remotes, and other items that belong to the home. Built-in appliances include, but are not limited to: your dishwasher, built-in microwave, stove, oven, cooktops, ice machines, trash compactors, water softeners, built-in refrigerators, R/O systems, window treatments, central vacuum and hoses, garage door openers, and remotes, pool equipment, built-in BBQs, built-in fire pits, ceiling fans and light fixtures, pool fencing, pool cleaning systems, exterior landscape lighting, and built-in speakers.