The Southwest Guaranteed Home Equity Program provides home value protection by guaranteeing that your primary residence in Greater Ashburn will maintain or increase its fair-market value for as long as you live in it.
If you pay Cook County real estate taxes and belong to the home value protection program for at least 5 years, you will be able to sell your primary Greater Ashburn property at a guaranteed price.
Activating Your Homeowner Benefit
To become a program member, you must complete the application and provide a current appraisal (six months old or less) for your primary Greater Ashburn property.
If you don't have a current appraisal, the program office can arrange one at an affordable one-time fee based on the number of units on the property.
Once the application and property appraisal are recorded at the program office, you'll receive a certificate of participation confirming membership. The certificate will also state your property's address, registration date and guaranteed value.
Acting On Your Homeowner Benefit
While the protected property can be sold at any time, coverage through the program is valid only after 5 years, a period that was chosen to assure Greater Ashburn residents that their investments will be sound.
If you reappraise your Greater Ashburn property after your first 5 years, your guaranteed-value wait period the second time will be only 3 years.
If after 5 years in the program you decide to relocate, you will file a "Notice of Intent to Sell" form with the program office.
Your protected home may be listed with your agent of choice as long as the property remains listed with that agent for at least 90 days. A governing commission will then review your "Notice of Intent to Sell" within 60 days of receiving it.