How to Buy and Sell a Home at the Same Time

Are you in the market for a new home but unsure how to navigate the process of buying and selling at the same time?
Many homeowners face this challenge, but it is doable with the right strategy and guidance.We'll cover everything you need to know to successfully buy and sell a home at the same time, from timing your transactions to evaluating your financing options. So, whether you're a first-time buyer or an experienced investor, keep reading to find out how to make your next move a success.
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Vinicius Brasil - Santa Clara Real Estate Guy
408.582.3272 - Direct Number
[e-mail]
SantaClaraRealEstateGuy.com
theBrasilGroup.com
Book an appointment with Vinicius:
tidycal.com/vbrasil
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Links below:
HOW TO BUY AND SELL A HOME AT THE SAME TIME:
www.santaclararealestateguy.c...
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Contents of this video
00:00 - Intro
00:52 - Buying and Selling- What are Your Options?
02:41 - Option 1: Buying a Home Before You Sell Your Existing Home
03:06 - Home Sale Contingency
05:08 - Bridge Loan or Home Equity Line
08:24 - Option 2: Selling Your Home Before Buying a New One
09:05 - Renting Back Your Previous Home
11:07- Finding a Short-term Rental Before You Buy Your Home
12:36 - Other Options
13:03 - Getting a Direct Cash Offer on Your Home
15:20 - Trade-In with Sale Price Guarantee
17:10 - Conclusion
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Buying and Selling - What are Your Options?
As a homeowner, the prospect of buying and selling a home at the same time can be daunting. With the right strategy and guidance, it is possible to successfully move to your next home. We'll explore the options available to homeowners looking to move and provide tips on how to make the process seamless.
Option 1: Buying a Home Before You Sell Your Existing Home
Buying a new home before selling your existing one can be a tricky financial maneuver, but it's not impossible. Here are two strategies that homeowners can use to avoid overspending on a new house.
1. Home Sale Contingency: The seller may expect a higher price from a contingent sale offer from a buyer of your old home. This contingency allows you a set period of time to find a buyer for your old house before closing escrow on your new home. Home sale contingencies are not widely accepted by sellers or listing agents.
2. Bridge Loan or Home Equity Line: A bridge loan is a short-term loan that allows you to pay off the mortgage on your current home. A home equity line of credit assumes that you have enough equity in your existing home to qualify for a new property. Both options come with their own set of risks and potential drawbacks, such as high-interest rates and strict terms.
Option 2: Selling Your Home Before Buying a New One
Selling your existing home before buying a new one can be a financially secure option, but also comes with its own set of inconveniences and risks. One of the biggest challenges of this strategy is the potential for having to move twice within a short period of time. In this blog post, we'll look at the different strategies you can use to buy a new home.
1. Renting Back Your Previous Home: Renting your previous home back from the new buyer can be a convenient option, but it’s important to note that most rent-backs are limited to 30 or 60 days, which may not be enough time to find and close on a new home. Additionally, it can be difficult to negotiate a rent-back that works for you and your family, especially if you have pets.
2. Finding a Short-term Rental Before You Buy Your Home: This option allows you more time to find the right home, but it also means moving twice. If you have a pet, consider signing a 12-month lease that you'll have to break every month.
Other Options: If you are looking to buy a new home, you might consider taking out a HELOC or bridge loan. But there are other options that offer you the convenience of shopping for your new home while still living in your existing home.
* Getting a Direct Cash Offer on Your Home: This option clears any loan you had from your previous loan enabling you to maximize your purchasing power. You can close escrow quickly in 8 days or less. You will be able to remain in the home which you have just sold for up to 30 days after closing so that you can move directly into your new house.
* Trade-In with Sale Price Guarantee: This option allows you to make an offer on the new home without any contingencies and can close as early as 8 days. The benefit of this program is that you receive the entire proceeds based on what your home sells for. This program stipulates that you must sell within 90 days.

[@mdemko]

Great info. Trade in sounds the best.. non-contingent offer, have 90 days to sell the home.. don't have to firesale the home while in escrow for buy and sell. only 1.2 %.. is this homelight?

[@braddiamond2543]

Great info

[@lustrae]

The background music is too loud!

[@braddiamond2543]

Turn down music track please