About
About Community REfund
Community REfund is an initiative launched in 2007 designed to ensure that local communities benefits from the growth of real estate and tourism in Nicaragua. We aim to encourage people to think differently about investment and offer a simple solution to responsible property investing - investing in a way that creates social, environmental and economic value.
The RE stands for Real Estate
The REfund model encourages every participant in a real estate transaction to contribute funds at the time of closing. There are at least 5 participants in a standard transaction: the buyer, the seller, the real estate agent, the title insurance company and the legal firm. Add a bit of peer pressure and you have all the ingredients for a powerful funding mechanism.
Background
The initial idea for Community REfund resulted from an ongoing conversation between Comunidad Connect, a community based non-profit organization started in San Juan del Sur, Nicaragua, and Coldwell Banker Nicaragua Real Estate, an international real estate agency devoted to serving the communities where it operates.
Community REfund has been selected as a flagship project of ANID, the Association of Nicaraguan Developers and Investors. We thank them for their continued support and for choosing Community REfund as a key way to give back to the communities in which they live.
Governance
Community REfund is administered by a Steering Group drawn from various sectors of the real estate and development community in Nicaragua. The Community REfund Steering Group has overall responsibility for the strategy, direction and management of Community REfund.
