How To Buy A Home THEN Sell

First, I want to mention that it would be ideal if you could sell your home and then purchase the other home and have the closing dates match up. Then you don’t even need us.However, if you would like to purchase and then sell, here is how I would suggest doing it. This assumes your existing home is free & clear of any mortgages. We do it in 2 stages. I would suggest that we secure the maximum line of credit on your existing home. The maximum like you can get is 65% of the appraised value of the home. Now you have access to that money that you can use to close on the purchase of the new home. If it’s not enough to buy the new home outright, we can make up this difference on the day of closing the purchase with a small “bridge” loan. It might need to be a private bridge which more expensive, but it is a relatively small amount and it is short term. OR if we can qualify with income, then we could try to get a secured line on the home you’re purchasing to make up the difference. You pay it out when your home sells and you keep it there with a $0 balance. It’s there if you need it!