Buy Before You Sell And Move In To Your Next Home Up To 2 or 3 Months Sooner*
* this can vary based on the average number of days on market in your area
Buy Before You Sell
The Old Traditional Way
Moving is both exciting and stressful.
The excitement starts when you are out casually looking at homes. You find the perfect home and put a deposit on it to hold it.
Then you realize that you need to sell your current home, and get it sold by a certain date or you will lose your deposit on the new place.
Cue stressful music.
The offer that you made for your next home is contingent on the sale of your current home which makes it a less-strong offer.
You list your old home for sale and hope that you will get a good enough offer so you can get it sold in time, not realizing that the real estate market in the area has slowed considerably and it is taking up to 3 months to get homes sold.
It’s necessary to declutter so you rent a storage unit for a few months.
You are trying to make some home improvements to make it more desirable, but you need to accommodate showings while still living your life.
You are also hoping that someone does not make a better offer on that next home that you wanted. Otherwise you might need to start the process over again.
You finally get an offer for your current home. It might not be as good as what you had hoped for, but you feel you have to take it because you have already committed to the next home.
You complete the sale of your old home, but need to rent for awhile because the closing dates on the new home and the old home do not coincide, so you put everything in storage.
You finally move in and vow “never again”.
How BBYS (Buy Before You Sell) Changes Things
Moving is exciting and BBYS reduces or eliminates the stress aspect.
The excitement starts when you are out casually looking at homes. You find the perfect home and put a deposit on it to hold it.
You contact my team and start the BBYS process.
Within just a couple of days you have a guaranteed offer on your current home, you have the funds for your down payment via the Interest Free Equity Advance, you submit a non-contingent offer, and you are Under Contract on your next home.
You close on that perfect home and move in.
You do not need to make double mortgage payments for both homes because the Interest Free Equity Advance is covering the payments on the old home for up to 6 months.
Cue the “happy dance” music.
You get your old home ready for sale, list it for sale, and don’t need to consider low-ball offers because you can take your time (up to 6 months) to get the best price for your home.
You close on your old home, pay back the Interest Free Equity Advance.
Cue the “happy dance” music again.
You will start the qualification process online, and then meet with our Lending Partner to finalize the details.
Our lending partner will provide you with the guarantee for the sale of your current home allowing you to make a non-contingent offer for the purchase of your next home.
Partner with us to find a home that will satisfy all of your requirements.
Your Equity Advance provides the funds needed for the down payment, the Guaranteed Offer makes you a non-contingent buyer (which sellers love), and my team will guide you through the Inspections, Documentation, Appraisal, and Closing process.
Buy Before You Sell
Why? and How?
read on, or
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The traditional method of selling a home before buying has worked for decades, and has allowed millions of people to move forward with their plans and their lives.
So, why change?
The old way is not without a certain amount of stress and compromise.
In spite of the fact that it has been functional for so many years, there are some issues with the process. I’ll explain here by giving some actual situations that I have encountered while representing clients as a “traditional agent”.
Which of these resembles your situation?
“I want to move to a different home, but…”
- a) I’m afraid that if I put my home up for sale and it gets sold, I won’t find another home in time and I might have to rent for a while.
The elapsed time between putting your home up for sale and actually receiving the proceeds so you can buy can sometimes be up to three months. During those 3 months your dream home can very well be sold to someone else.
“Buy Before You Sell” gives you time to find the home on your schedule without the pressure.
- b) I can’t buy a different house until my current home closes escrow.
“Buy Before You Sell” provides the funds to make a guaranteed non-contingent offer on your next home before you have actually sold your current home.
- c} I have an elderly parent (or someone with a disability) living with me, or kids and/or pets, and we can’t readily clean up and leave for every showing.
You will not need to put up with any of the “showing inconveniences” with “Buy Before You Sell”. You will have already moved out of your old home and into your new home on your timeline. Once you have moved out we will start preparing your old home for sale so that any showings will take place in a clean unoccupied home, and the prospective buyers can better visualize furniture placement in a clean vacant home.
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d) Each house that I want to buy gets sold before I can get my current home sold.
See the first example (a) above
- e) I can’t see how I can keep my current home clean and “showing-ready” while it’s for sale. I need to live my life, OR..
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f) I work from home and can’t stop working to accommodate showings. My dining room table is my office. I would need to put all my papers and files away somewhere and leave the house while some potential buyer is looking through all my stuff and probably won’t buy anyway because the house is a mess.
You will not need to put up with any of the “showing inconveniences” with “Buy Before You Sell”. You will have already moved out of your old home and into your new home on your timeline. Once you have moved out we will start preparing your old home for sale so that any showings will take place in a clean unoccupied home, and the prospective buyers can better visualize furniture placement in a clean vacant home.
- g) My home needs some fixing-up before I can put it on the market, and I just don’t have the time or energy to do it.
“Buy Before You Sell” gives you the opportunity to make any necessary repairs or upgrades AFTER you have moved out of your old home. Additionally, we have partnerships with contractors who can take on the work so that you don’t need to do it on your own. Some of the proceeds from the equity advance can be set aside for repairs, upgrades, or other preparations.
- h) I’ve tried selling it before, but the seller of the house that I want will not accept an offer that is contingent on the sale of this home, so I just gave up and stopped trying.”
The “Buy Before You Sell” equity advance is not just a bridge loan to get to your next home. It is just one part of the overall package which also includes a guaranteed buyout of your current home. Both aspects combined allow you to make a non-contingent off for your next home, meaning that the purchase of your next home is not contingent on the sale of your current home. This strengthens the offer in the Seller’s eyes because the offer cannot be rescinded if the current home does not sell.
I have good news for anyone who wants to sell their home and buy another, but doesn’t want to put up with showings, contingencies, constantly keeping the house clean, temporary living arrangements, storage unit fees, and the uncertainty of not knowing if their next home will be available when they are ready.
Like my old boss used to say, “don’t bring me problems, bring me solutions”.
Buy Before You Sell is the solution.
- Find your ideal next home first, on your schedule, without being rushed.
- Eliminate pressure and stress.
- Enjoy the convenience of not having to put up with showings, keeping the house clean and presentable all the time.
- Forget about needing to declutter and rent a storage unit for all your extra furniture.
- Only move once. You will not need to find temporary living arrangements because the closing date on your current home does not match with the closing date on your next home.
- And take care of the minor but necessary repairs after you have moved out on your schedule.
- Offer your buyer a move-in ready home at a premium price.
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Let’s Compare The Typical Step-by-Step Process For Each Method:
Traditional Sell Before You Buy
(14 major steps)
- Rent storage unit for excess furniture and other “clutter” items
- Work with Realtor to prepare previous home for sale including cleaning, repairs, paint, flooring
- List home for sale keeping it clean and “showing ready” at all times
- Leave home for every showing
- Receive offers for current home
- Accept offer and go under contract to sell current home
- Start looking for next home with your Realtor
- Find possible next home and make contingent offer for it
- *** note that sellers do not like contingent offers and will probably demand that a) either contingency be removed, or b) backup offer from other buyer could be moved into primary position ***
- **** also note that sellers will have the advantage in any negotiation if offer has contingent sale clause. This would include Inspection Objection, Title Objection, and contract dates ****
- Assuming that offer accepted for next home, work through Inspections and contract dates.
- Close escrow on current home.
- Move out of current home. Might need to arrange for storage until next home closes escrow. You might be homeless for a while if Closing dates do not align, so be sure to have temporary housing arrangements in place.
- Close escrow on next home and move in.
Our Buy Before Sell System
(13 major steps but you are in your next home up to 3 months sooner)
- Submit application to qualify the current home
- Get pre-approved for mortgage on next home
- Work with Realtor to find next home
- Submit non-contingent offer to purchase next home
- Offer accepted
- Close on next home
- Move in to your dream home
- Work with Realtor to prepare previous home for sale including cleaning, repairs, paint, flooring.
- List previous home for sale as vacant and “move-in ready”
- Take as long as 6 months to sell.
- Receive offers on previous home
- Close escrow and receive full proceeds of sale
- Pay equity advance lender for funds advanced. No interest.
- Smile, you did it.
How does the Buy Before You Sell solution compare cost-wise?
The cost of our Buy Before You Sell is going to be roughly the same as doing it the traditional way, and could be quite a bit less when you factor out the extra costs that you will not need such as storage unit, temporary housing, and other extras that are eliminated by our system.
And, your current mortgage payment will not be included in the Debt to Income (DTI) calculation for your next home.
However, these costs are heavily offset by the real estate commission reductions that we provide when my team is selected to provide this service.
There are other intangibles to consider:
- What is the value to you to be able to move in to your next home 3 months sooner than doing it the old way?
- What is the value to you for using a system that is practically stress-free?
Schedule a no-obligation meeting, either in-person or by phone to discuss how this can help your situation.
Schedule a Brief 15 Minute Phone Consultation
Or fill out this short contact form if you have any general questions or requests about the service.
We will try our best to respond back to you within 24 hours, but usually much sooner.
Phone (call or text)
720.277.9001
Jerry Downer
