You can sell your home whenever you want.  You will need to notify us as soon as you decide to sell, so that we can prepare and avoid any hiccups in the transaction.
To calculate the Unlock Share we first need to determine the Ending Home Value. The Ending Home Value is typically equal to the sale price to a bona fide, arms-length, third party buyer.  It includes the fair market value of any non-cash consideration (such as a seller concession), and does not include deductions for closing costs, taxes, documentary fees, mortgage loans, other liens or secured loans, sales commissions, or appraisal expenses.
We will typically obtain an appraisal to provide an independent measure of your home's value.  An appraisal will be needed if you have requested an Improvement Adjustment.  We will also obtain a property inspection to determine is a Maintenance Adjustment might be required.  These adjustments, when they apply, will impact the Ending Home Value that is used to determine the Unlock Share.
Special provisions may apply if it appears that your sale is not arms-length, or the proposed sale price is materially different from your home's market value.
Once the Ending Home Value and Unlock Share are determined, we will provide the escrow company with a settlement statement and documents needed to release our lien on the property.  At the closing of your sale, the escrow company will pay us the Unlock Share out of the sale proceeds and release our lien, ending the Unlock Agreement.  How much you will receive from the sale will depend on the amount payable to Unlock, the outstanding balances of any loans secured by your property, and real estate commissions and other costs associated with the sale of your home.
See the Unlock Product Guide for more details.