Here are three options when selling your home and buying a new one.
Today I’m talking about creative ways to sell one home and buy another. In today’s market, one of the biggest dilemmas people have is not knowing whether they can find their next house while selling their current one. A lot of people can’t afford to keep both at the same time and so, with limited inventory, that’s a huge concern. We have three great options for those people:
1. Sell first and then rent back. In the process of selling, we either rent back from the buyer or do it concurrently by going into escrow while selling your current home. This does put pressure on you to find your next home and you may have to move into some sort of temporary housing at the end of the time frame. If you are looking for a specific home, that may not be the best option for you unless you’re flexible.
2. Home trade-in program. We have access to a program that allows you to purchase your next home first, and once you’ve closed on the other one, you trade in your home to this company, you can get most of the money from the sale of your current home to go toward the next home. You won’t have two mortgage payments and it allows you to get the exact home that you want to buy without having the contingency of you selling your current home. Once you move, we can make your house shine and get it looking great to maximize your dollar.
“Feel comfortable knowing you’re moving to the perfect home next.”
3. A bridge loan. This allows you to go and purchase a new home with two separate loans. You get a first mortgage, which is the loan that you’re going to keep, and a second mortgage, which is going to be a loan that you’ll pay off when you sell your existing home. This allows you to go out and purchase that perfect home, then sell your existing home and move at that time.
We can help you decide what method will be right for you and give you all your options so that you can feel comfortable that you’re going to move to the perfect home next. If you have any questions about this, feel free to give me a call at 562-316-2915 or email me at [email protected]. I look forward to hearing from you. Have a great day.