Here are five ways you can both buy and sell in our present market.
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We’re currently in an insane real estate market; sellers are getting multiple offers at once, and if you have to write an offer contingent upon the sale of your home, your offer won’t be considered. Even if your current home is under contract, the sale could still fall through, so your offer still may not get serious consideration. The seller would be taking a risk with your offer compared to accepting a cash offer or a conventional one. So there are five ways you can buy and sell at the same time right now:
1. An all-cash offer. If you have a retirement account or something similar, you can access those funds for this. You could still sell your current house on time to use the money from your sale to buy the new house, but your offer won’t be contingent on the sale of your current home, so you’re in a better position to win the deal.
2. Home equity line of credit or bridge loan. Both of these options allow you to write a cash offer when the right house hits the market.
3. Live in a rental house. You can go on Zillow or Airbnb and find rental properties to live in between selling and finding that perfect home. Then you’ll have cash in the bank to make the best offer when a home you love becomes available.
Writing an offer in cash is one of the best options these days.
4. Rent-back. You can negotiate with your buyer to rent back your home from them for a while after closing. Then you’ll have the money from your sale to spend on your next house. People are moving here from out of the area who aren’t quite ready to move yet but want to secure a home. I’ve had buyers and sellers do this, and it’s worked out perfectly for both parties.
5. Our cash offer program. Our program helps you take most of the equity out of your house so you’re in a position to write an offer on a property you love when it hits the market.
If we can help you buy or sell or you have any questions, my team and I are on standby seven days a week ready to assist you. We look forward to speaking with you.