3 Ways You Can Sell & Buy in Our Market
Here’s how you can buy and sell in our market.
We all know that competition is fierce among buyers in today’s real estate market. Multiple-offer situations are everywhere—not just in our DMV market. The good news is that if you’re looking to sell and then buy, you have three options:
1. If you have enough equity in your home, get a home equity line of credit (HELOC). This way, you’ll have the down payment amount needed to buy your next home. Once you find the right home, you can purchase first and then put your current home on the market and perhaps explore a rent-back agreement with potential buyers.
2. Use a bridge loan. Bridge loans are short-term loans (up to a year or so) with higher interest rates that give you the liquidity to purchase your next home before putting your current home on the market.
Multiple-offer situations are everywhere—not just in our DMV market.
3. Put your home on the market first, attract multiple offers, and negotiate a rent-back. Who knows, you may even be able to negotiate a 60-day rent-back. When you combine a 30-day close with a 60-day rent-back, you have 90 total days to find your new home.
If you have questions about this topic or need more information, don’t hesitate to reach out to me. I’d love to help you.