In a hot sellers market I get this question a lot from people thinking of selling their home. If I sell my home, where will I go?
This real estate question comes up a lot because it is a real fear of home sellers that their home will sell so fast and they won’t have time to find a new home. Don’t worry, you won’t be homeless. There are many ways to work a transaction to give you time to find a home.
The concern starts with the realization that in a hot real estate market it is really hard to buy a home contingent on the sale of your current home. One easy solution to that is a Bridge Loan. Text me because I have a great option for bridge loans.
Outside of adjusting your financing, it is pretty common to request a Post-Closing Occupany where you stay in your home after closing for 30 to 60 days. In a really hot real estate market the buyers may let you stay in your home rent-free for that time which can really help out on your home search and since you’ve already closed you have the cash to make stronger offers on the home.
This is just the beginning. There are a lot of ways to structure a transaction to give you time to buy a new home. As a last resort, you could get a short term rental.
Text me at 970-203-5066 and we can talk through the details of your particular situation.
*Andy Hawbaker is a licensed Realtor with 8z Real Estate in Windsor, CO.*
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