Hey y’all, hope you are doing well. This month I have a new tool for you, a new arrow in the quiver, and it’s the Buy Before You Sell program.
With listings kind of sitting on the market a little bit longer, we know the challenging market conditions, I think this is a good tool that you’re gonna want to be aware of.
Basically what this is, it allows you to, uh, help a client own their next home without selling their existing home first.
We know a lot of folks are sitting on a lot of, on a lot of equity, and they need to move for whatever reason, but they, they’re, they’re scared.
They don’t want to be homeless. They don’t like the risk. They don’t like, um, having their kid, their home contingent upon the sale.
or maybe you have a client that’s under- contract, and you got something under contract, or getting things under contract, where, um, you were able to get it accepted that was contingent upon the sale.
This fixes the contingency part, more or less. And even when you have a client that, uh, hasn’t, you know, gone under contract, something’s been accepted, and you get a time clause, and they have to bail on the house. This fixes all those- problem. So, long story short, I have a whiz bang power point presentation on this. Not enough time to present that to you here.
But, the bottom line is it’s essentially a bridge loan with a zero percent interest, uh, bridge. Um, and then they also are able to, do an offer to knock out, having to ratio the first- I wish you a mortgage as well.
So, what that allows us to do is it allows us to get the client qualified to buy the new home without having to hit him ratio-wise for the existing house payment, uh, or the bridge loan.
And that makes everything go. So, how that affects you is it’s still your deal. You’re able to help him normal buyer’s agent on the buy side, you’re able to help him get the new home.
And then you’re also going to be listing the existing home as well. But the whole idea is that you can get him into the new home first, get him out of the old place. They can tap the equity in that place. We can even use some of the equity to fix up the existing home. You know, paint, carpet, all the good stuff. So, you can get that home, the existing departure residency, and tip-top condition to sell- you know.
But for, you know, top dollar for the client. And, um, the client gets to keep all their equity. It’s a really slick deal. And it makes a lot of sense right now. I’ve had a client just lose another home because they- they got time-clossed.
So this basically fixes that. So, it’s a great product. They’ve, uh, found a niche. Um, there’s a need for it. I’d love to teach you more about. You kind of have this in your back pocket. So, reach out to me and let me know if this is something you’d like to learn more about. And, we can make arrangements to get you taken care of. As always, thanks for watching. Uh, have a great day.
Reach out to me for this or anything else you have questions on. Take care. Bye.
