The Benefits of Buying Before Selling

Let's talk about the conundrum most homeowners have: They need to sell their homes, but all of their equity is tied up in those homes. They don't want the inconvenience of putting their houses on the market and getting out of the home on the weekends to have buyers come in. They don't want to deal with open houses. They don't want to have this fear of being homeless.

We have this really amazing partnership with a bank. This bank will actually give you what’s kind of like a cash advance, where you pick out the home you want to buy and we as agents make an offer on your behalf, but the deed goes in the name of the bank. Once the home closes, you get to move into the home and put it on the market when you're ready. Then you don't have to be inconvenienced with showings or open houses or anything like that, yet you'll make sure you get your home out to the masses so that you get the top dollar for your home. 

Once you've actually sold your primary residence and collected the proceeds, this is when you have the opportunity to originate the loan on the house that this bank bought on your behalf.

Another cool thing is there are no double mortgage payments. The bank will pay for your new mortgage on your behalf until you can pay back the loan on it. The monthly interest does accrue on that house, but you don't have to make two payments at the same time.

This is a really great tool for you to take advantage of. You’ll work with a bank that understands all of your equity is tied up in your primary home and that you want to buy something else, but you know you don't have the cash because it's all tied up in the house.

This is a way for you to make a cash offer, which is pretty cool and will help you with negotiations. It also gives you the flexibility of deciding if you want to vacate the home and have a stress-free sale, where you don't have to worry about showings on the weekends, open houses, and things of that nature. 

If you'd like to learn more about how to buy a home before you sell, reach out to our office and schedule an appointment with us and we'll tell you more about the details of the program.

Again, if you want an instant evaluation online of what your home is worth, check it out here.

Have a great day!