ACME’s Courtney Poulos offers advice on selling and buying at the same time, as featured on Top Movers Quotes. Read more from other agents around the country.
Courtney Poulos:
“My advice is to speak with a lender regarding bridge financing or you get a HELOC (Home Equity Line of Credit) on the property you currently own. That equity would give you the down payment for the home you wish to purchase.
There are also some lenders now offering what is called Bridge Financing when you get a loan and you haven’t sold your current property. In California, there is an alternative lean program called point.com. Point.com will provide you a loan in exchange for a portion of your home’s appreciation. So you have to be creative from moving from state to state, but it does not have to be difficult.
If the market that you are buying in is not competitive, you could write an offer and include a sale of home contingency.”
Los Angeles CA Real Estate & Homes for Sale