With the HomeLight Buy Before You Sell program, your client can buy their new home before even listing their current home, eliminating any concerns over qualifying for both mortgages at the same time or the need for a home sale contingency. If needed, they can also tap into their current home equity immediately with a down payment loan for their new purchase!
The HomeLight Buy Before You Sell Process
Step 1: Get the client's current property and financing approved
Discover the amount of equity they're able to unlock from their current home.
Step 2: Make a strong offer on their new home
With the equity unlock, your clients are able to make a stronger offer on their new home, with no home sale contingency.
Step 3: Your clients can move in on their schedule
They’re able to move in immediately upon closing. You have:
- 10 days to list their prior home on the open market
- 90 days to get their prior home under contract
Step 4: Maximize the home's sales price on the open market
You list the home vacant and are able to maximize its sales price. Once the home sells:
- You get paid!
- HomeLight collects the program fee & reimbursement for the unlocked equity
How much does the program cost?
It’s free to get started and see how much equity your clients can unlock. If your clients choose to transact using the program, there is a flat fee of 2.4% of the departing residence sale price.
How long does it take?
HomeLight can approve your clients within 24 hours, and you’ll be ready to submit offers with no home sale contingency within 7-10 days.
What happens if the home doesn’t sell after 90 days?
HomeLight will purchase it at the Loan Payoff Value, then will relist it on the open market with you as the listing agent. This is unlikely though. You are a great agent, you know the value of this home, and you will be coaching your clients through any needed price drops leading up to day 90 to ensure it sells before then and gets the best price possible on the open market!