Tag Lending Group Blog: Expert Mortgage Solutions & Insights

Buy Before You Sell

Written by Angela Bañez | May 3, 2024 12:13:46 PM

In the fast-paced world of real estate, transitions can be daunting. Whether you're looking to upgrade to your dream home or downsize to a more manageable space, the logistics of buying and selling can feel overwhelming. However, with innovative programs like Buy Before You Sell, navigating these transitions has never been easier. This revolutionary program offers a seamless solution for homeowners, allowing them to unlock equity from their current home to confidently purchase their next property.

How it Works: Unlock Equity from Your Home with Ease

  • Imagine having the flexibility to access the equity in your current home without the stress of selling first. With the Buy Before You Sell program, this becomes a reality. Here's how it works: your loan officer will submit your property for the program and determine the amount of equity you can unlock. Once approved, you'll sign the Buy Before You Sell agreement, giving you the financial freedom to make a strong offer on your new home.

Buy Your Dream Home with Confidence

  • One of the biggest advantages of the Buy Before You Sell program is the ability to make a strong offer on your dream home without a home sale contingency. This puts you in a favorable position as a buyer, increasing your chances of securing the property you've always wanted. By leveraging your unlocked home equity as a down payment, you can enter the market with confidence, knowing that financing is already in place.

Sell Your Current Home with Peace of Mind

  • Listing your current home vacant on the market can attract the strongest offers from prospective buyers. With the Buy Before You Sell program, you have the flexibility to move into your new home before selling your current property. This allows you to stage your home effectively and showcase its full potential, maximizing its market value. Additionally, by eliminating the need for a contingent sale, you can streamline the selling process and avoid the hassle of coordinating two transactions simultaneously.

A Step-by-Step Guide to Your Buy Before You Sell Transaction

Getting Approved: Your loan officer submits your current home for the program, and Tag Lending Group determines your Equity Unlock amount. Once approved, you sign the Buy Before You Sell agreement, solidifying your participation in the program.

House Hunting: Armed with your unlocked equity, you can begin the exciting process of house hunting. Make offers with confidence, knowing that financing is already secured, and once your offer is accepted, your agent will initiate the escrow process.

Closing on Your New Home: Tag Lending Group facilitates a home inspection on your departing residence and processes your Equity Unlock loan. As you prepare to close on your new home, your loan officer issues a clear to close on your new mortgage, ensuring a smooth transition.

Selling Your Former Home: Your agent lists your departing home on the MLS, attracting potential buyers. Once an offer is accepted, escrow is opened, and Tag Lending Group works with the escrow company for the Equity Unlock loan payoff. Finally, your departing home closes, and you receive the proceeds from the sale.

Conclusion: Simplify Your Move with Buy Before You Sell

In the dynamic world of real estate, timing is everything. With the Buy Before You Sell program, you can take control of your transition with confidence and ease. Say goodbye to the stress of coordinating multiple transactions and hello to a seamless move into your new home. Unlock the possibilities today and embark on your next real estate adventure with peace of mind.