Who Offers Bridge Loans? Tips for Sellers Trying to Buy

How does HomeLight Buy Before You Sell work?

HomeLight’s Buy Before You Sell program provides a seamless path for sellers who want to purchase their next home without waiting for their current property to sell.

Here’s how it works:

If your current home doesn’t sell within 120 days of purchasing your new home, HomeLight will buy your house and continue to work with you to sell it. With this Home Sale Guarantee, any profits from the sale (after deducting HomeLight’s incurred costs) will be distributed to you after the property sells on the open market.

This approach can give you peace of mind, knowing you don’t have to rush your sale or settle for a lower price just to move forward.

What are the benefits of using a BBYS program?

For many sellers, a buy before you sell (BBYS) program like HomeLight’s offers key advantages over a traditional bridge loan:

• Flexible timelines: There is no need to perfectly time your sale and purchase dates of your move. You’ll have welcome breathing room to plan without feeling pressured or rushed into a deal.
• Less financial stress: HomeLight Buy Before You Sell can remove the worry of potential double mortgage payments or having to dip into savings to bridge the gap between homes.
• Stronger buying power: In a competitive or low-inventory market, a non-contingent offer can stand out and grab the seller’s attention, increasing your chances of winning the home you want.
• More potential earnings: After you move, you can list your old house unoccupied and even staged, which can lead to more sale proceeds.
• Simplified process and certainty: HomeLight coordinates the entire process, from providing the equity advance to helping list and sell your current home, reducing the logistical complexity and providing more certainty during a life-changing time.

Ask a top agent about a BBYS solution

Every seller’s situation is unique. If you’re unsure whether a traditional bridge loan or a buy before you sell program is the better fit, consult with a top-rated local real estate agent. A seasoned agent familiar with bridge loans and BBYS solutions can guide you toward the best route based on your circumstances and selling timeline.

HomeLight can connect you with a trusted agent in your area to discuss whether the Buy Before You Sell program is right for you. You can also get started at homelight.com/buy-before-you-sell.

With the right support, you can move forward with confidence and make your next home purchase a reality.

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