Remove Closing costs Remove Finance Remove Home sale contingency Remove Lending
article thumbnail

How does the “buy before you sell” model differ from iBuyers and Power buyers?

Housing Wire

Jeremy Foster: The traditional home purchase process for homeowners is broken. A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments.

article thumbnail

Unlock Your Home’s Equity in Pennsylvania: Bridge Loans Explained

HomeLight

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

Equity 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Top 9 Contingencies to Consider in Your Offer When Buying a Home

Redfin

The inspection contingency can protect you from purchasing a poor property investment because it allows you to back out of the deal if a major issue is discovered. 2) Appraisal contingency. 3) Financing contingency. The financing contingency protects both the bank and the homebuyer. 4) Home sale contingency.

article thumbnail

What is a Bridge Loan? A Creative Homebuying Solution

HomeLight

Selling your old home and buying your new one can mean a tricky balance of timing and funds, but a bridge loan might be the solution you are looking for to help the pieces fit together. Bridge loans are short-term financing solutions that help homeowners purchase a new home before selling their old one. Let’s dive in.

Loans 73
article thumbnail

Flyhomes Reviews & Comparison to Other Home Trade-in Platforms

HomeLight

In many instances, a homeowner needs to use equity from their existing home to buy their next residence. That can mean adding a home sale contingency to their offer, which makes it weaker and less attractive to sellers, or finding temporary housing between transactions. Is there a cost to using Flyhomes?

article thumbnail

Bridge Loans in California: How to Unlock Home Equity to Buy Before You Sell

HomeLight

With low inventory and notoriously high home prices, California homeowners are looking for creative financing solutions to fund their dream home purchases. One of these solutions comes in the form of a bridge loan — this kind of loan allows homeowners to purchase their next home before needing to sell their old one.

Equity 81
article thumbnail

Should I Sell or Keep My Paid-Off House?

HomeLight

To help decipher them, Mikki Ramey , a top real estate agent in South Carolina, and Richard Helali, a mortgage lending expert with HomeLight Loans , gave us some pointers. A home sale contingency is a clause added to a purchase agreement that makes the sale reliant on you selling your previous home before you can close on the next home.