It’s often called the buy-sell home conundrum. It’s the dilemma of needing to buy a new home before selling your current one so you know you have a place to live — and you only want to move once. However, most Americans need the equity and sale proceeds from their current home to buy a new home. One solution is the modern “Buy Before You Sell” program. A Buy Before You Sell (BBYS) program, is an innovative option tailored for home shoppers facing this real estate Catch-22. In this guide, we’ll give you an overview of BBYS programs, providing you with expert insights to help you decide if this option is right for you. In the realm of residential real estate, a Buy Before You Sell program is a game-changer for homeowners looking to transition into a new home. It’s an integrated service approach that allows you to secure your next home before selling your current one. Max Folkers, a certified HomeLight Buy Before You Sell agent says this program option removes much of the anxiety and headaches associated with the old ways of trying to logistically, emotionally, and financially balance a family move. “The benefit to that is you don’t have to worry about all the timing associated with both selling and buying simultaneously, and it just gives a lot more flexibility,” Folkers explains. Here are some of the benefits you can expect with a Buy Before You Sell program: The mechanics of a Buy Before You Sell program are straightforward yet impactful. These programs allow homeowners to tap into their home equity quickly and use the funds for a down payment on a new home, all with the assistance of experienced real estate professionals who guide the entire process. “Buy Before You Sell works because it enables you to purchase a home while still staying in your current home, and it frees up the equity from your current home to be able to make that purchase,” Folkers, says.What is a Buy Before You Sell program in real estate?
How does a Buy Before You Sell program work?
