What is a Buy Before You Sell program?
A Buy Before You Sell program is a specialized service offered by modern real estate solution companies like HomeLight. They are designed to alleviate the stress and financial pressure of having to sell your current home before purchasing a new one.
These programs make it possible for homeowners to easily tap into their existing home equity and use the funds for a down payment on a new home, all with the assistance of knowledgeable real estate professionals who simplify and guide the process from start to finish.
Here’s how it typically works:
- Financial solutions: The program may offer a short-term loan or other financial arrangements to cover the down payment and possibly other expenses related to purchasing the new home. This enables homeowners to proceed with buying a new property before their current one is sold.
- Home sale assistance or guarantee: Alongside financial support, these programs often include services to help sell your current home. This might involve marketing the property, staging it for showings, or even guaranteeing a sale within a certain timeframe at a predetermined price.
- Flexibility and peace of mind: By removing the immediate need to sell your home before buying a new one, these programs offer flexibility in moving dates and reduce the risk of having to make rushed decisions or accept lower offers just to facilitate a purchase.
- Ability to make a stronger offer: With the backing of a buy before you sell program, you can make a strong offer on your new house without the need for a home sale contingency clause.
- Streamlined process: Many of these programs are designed to streamline the buying and selling process, offering integrated services that can include everything from financing to closing. This can significantly reduce the hassle and complexity typically associated with real estate transactions.
Here’s how HomeLight Buy Before You Sell works:
Contact HomeLight to get started today, or ask your agent how HomeLight Buy Before You Sell can provide you with a smoother, contingency-free purchase experience. HomeLight’s Buy Before You Sell program is available in most states throughout the country.
Is a Buy Before You Sell strategy right for you?
From leveraging home equity and bridge loans to making contingent offers or modern Buy Before You Sell programs, the right choice depends on your personal circumstances, financial situation, and the current real estate market.
If you’re feeling overwhelmed by the prospect of juggling two properties or securing financing for your next home purchase, remember that there are resources designed to help you navigate this journey.
HomeLight can help
HomeLight’s Buy Before You Sell program offers a seamless solution, providing the financial flexibility and support needed to make your move without the pressure of a quick sale. For those looking to maximize their sale price and find the perfect next home, HomeLight’s Agent Match platform connects you with top real estate agents in your area, ensuring you have expert guidance every step of the way.
Whether you’re upsizing, downsizing, or just looking for a change, taking the leap to buy a new home before selling your current one is a big move — but it doesn’t have to be a leap of faith.
Header Image Source: (Joshua Case/ Unsplash)
