This market is crazy, no? One question I get often is HOW do I buy a house and sell a house simultaneously? Well, never fear, I made a video for you to see how to buy and sell a house at the same time. Check it out!
In this video, we discuss three options for buying and selling your house at the same time.
- Sell your house and rent back, rent a short term rental (think AirBNB), or crash at a friend or family member’s place until you buy.
- Use a bridge loan. This means borrowing equity from your current home to use as a down payment. Once you sell your house, you will pay this loan back in full.
- Talk to your mortgage broker about re-casting your mortgage once you sell your house. You’ll have to put down a smaller down payment on you new house, but will be able to recalculate your loan once you sell your old house.
Keep in mind – these aren’t the ONLY ways you can buy and sell a house at the same time. But these three options are the best way to confidently submit offers on a new home without a contingency. It’s not impossible to go under contract with a contingency, but it’s pretty difficult in this market (more on that in another blog post).
Have questions about this? Let’s connect! I’m happy to text, chat, Zoom, or meet for coffee (or beer). You can get ahold of me at 970-673-7244 or [email protected].
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