The three best ways to move from one house to the next in this market.
How do you sell a house and buy another one in this crazy market? How can you make this work when houses are getting multiple offers and it’s so hard to find one to buy? How do you avoid being homeless? We hear these questions a lot lately. We have a few different solutions:
1. Embrace being homeless. We’ve seen people live a month or two in a nearby Airbnb. You can continue your home search from there in the meantime.
2. Buy your next home and then put your current home on the market. What makes this difficult is that you need the cash for the next house, and you have to get approved for both mortgages. There are programs out there that can help you with this situation. Bridge loans help, and some lenders will factor it into their underwriting. We can guide you to the right people.
We’ve seen people live a month or two in a nearby Airbnb between homes.
3. Seller’s contingency. We can make the sale of your house contingent upon you finding your next home. There won’t be a settlement until you have the home you’re going to buy and move into next under contract. That keeps you from having to worry about where you’re going to go. The one thing that won’t work in this market is a buyer’s contingency. The seller will take one of the other offers they have.
Those are the three easiest ways to move from one house to the next in this market. If you need to move right now, give us a call. We’re happy to help.