Here are some alternative options for homebuyers who need to sell.

As you may or may not know, the market has started to cool down a bit. Inventory has started to pick up, multiple-offer situations have slowed, and there are fewer showings per property. 

This has a lot of buyers hopeful that getting an offer accepted with a home sale contingency is more of a reality. However, most homes are still receiving multiple offers, so the likelihood of getting a contingent offer accepted is still low.

”Most people can’t afford two mortgages at once, unfortunately.”

If you do have a home you need to sell before you can purchase a new one, you have options:

1. Get your home show-ready, make an offer without a contingency, and time up your sale with a simultaneous close. This will only work if you're able to qualify for both properties at once. A lot of people are not in that financial position, however.

2. Bridge loan. We’ve partnered with a company called Knock to help you get a bridge loan. With this loan, you can purchase your new home first then sell your previous home. If the home sits on the market for too long, they’ll even buy it from you.

These are just two of your options if you need to sell before you buy. If you have any questions about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.