Short-Term Housing Options – Successful Home Selling and Buying

If your home no longer suits your needs, a move may be in your future. Since many areas around the country have a shortage of homes for sale, you may be concerned about your ability to find your next home before moving out of their current one.
Creative thinking can solve this problem and even create opportunity for you! Sellers in a multiple offer situation often prefer offers without a sale-of-buyer’s-home contingency. Therefore, completing your home sale before you make an offer on your next property can put you in a strong offer position.

So where will you live? Here are some options to consider:
• Negotiate into your home sale the option to rent back your current home for a few weeks.
• Stay with family or friends. Make sure you set rules and discuss day-to-day living first!
• Consider a vacation rental. Many vacation properties offer flexible, short-term arrangements.
• If your employer offers relocation housing, that may also be available to you

• Some lenders are offering a bridge loan- pulling equity from your current home to allow you a competitive down payment on the purchase and then you can turn around and put your current up for sale. This option would allow you to remain in your home but does add some stress on getting your home sold (bridge loan interest rates can be high.) Again this option needs to be discussed with a lender that provides this type of loan- I can connect you with such lenders.

Of course you will need to store your belongings temporarily, but in the end you can take your time and eliminate the stress that timing brings. In my experience, it is well worth it!

Contact me to learn more! 206-370-0043 (Liz’s cell phone)