Buy Before You Sell

Buy Before You Sell FAQs

Why Buy Before You Sell? 

You can buy your new home before listing your current home, eliminating any concerns over qualifying for two mortgages at the same time or the need for a home sale contingency. If needed, you can also tap into your current home’s equity immediately with a down payment loan (at no interest) for the new purchase!

How Does Buy Before You Sell Work? 

 1. Apply & Receive a Guaranteed Offer Price on Your Home
After application, you receive a Guaranteed Offer Price which is a backup offer on your current property. This is the price at which HomeLight Home Loans will purchase your current property in the event it does not go under contract within 70 days of your closing on your new home.

2. Write an offer on a new home with NO Home Sale Contingency
If also taking advantage of our Cash Offer program at no additional cost, NO Appraisal Contingency, NO Financing Contingency are needed.

3. Move into your new home on your schedule
Close in as few as 10 days from offer acceptance.

4. Get full market value when you sell your home
You maintain total control of the listing process to get the best price possible within 70 days total from the close date of your new home. If HomeLight Home Loans's guaranteed offer kicks in to purchase the home and they end up selling it for more, they will return the full "upside" to you, minus their costs to hold, list and sell the property. 

What are the Fees? 

1.7% of the departing sales price, if you are using HomeLight Home Loans for cash offer or financing on your new home. Payable from the proceeds of the sale. 2.4% of the departing residence sales price, if you are using an outside lender.

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