Last Updated on September 2, 2022
Let’s say you’ve found a house that you just can’t walk away from, and in this red hot housing market, who can blame you?
But keep pretending with us just a bit more, perhaps your current home hasn’t sold yet–are you able to buy a home before you even sell yours?
Thankfully, yes, you can buy a home before yours sells. You can also sell your home before you buy without having to move twice, with the help of Allen Tate’s partner programs.
If you need to sell and buy a home at the same time but don’t want the headache of having to move twice, don’t fret— here’s how you can navigate the transition with ease.
Buy Before you Sell
Allen Tate Mortgage offers Buy Before You Sell, a short-term loan program that allows a buyer to use the equity in their current home to provide down payment funds their next home purchase.
With Buy Before You Sell, a buyer can find and purchase a new home before they have even listed their current home for sale. This allows them to take advantage of today’s low interest rate and offers peace of mind in a low inventory market.
Also known as a bridge loan, this type of short-term loan is designed to “bridge the gap” when funding is needed but not yet available.
Alternatively, thanks to our partner Ribbon, you can turn your pre-approval with Allen Tate Mortgage into a cash offer. In today’s fast-paced market, a cash offer is highly competitive and will likely position you well to stand out. By choosing this route, you can buy your next home and then put your existing home on the market.
Sell before you buy
Working with our partner Easy Knock, you could tap into as much as 90% of the equity of your home by selling to Easy Knock and renting the house back from them.
Once you have secured your next home or maybe your new construction home is finished, then Easy Knock sells your existing home and pays you the remainder of the equity.
Buying and selling at the same time can be stressful, but by taking advantage of one of the many avenues to help you do both successfully, you can manage with ease.
Get in touch with your Allen Tate Realtor today to discuss these helpful options.
