We’ll evaluate the current property for the program and let you know how much equity we can unlock for your client.
Once approved, your client will have access to a portion of their equity and be able to submit a competitive offer with no home sale contingency at any time.
Your client can move immediately to their new home, thus avoiding paying for temporary housing and skipping the hassle of showing their home while they still live there.
Your client's agent will be ready to list the home unoccupied and potentially staged to attract the strongest offers possible. After selling your client will receive the remainder of their equity.
The amount of equity you can unlock is determined using HomeLight's proprietary algorithm, which takes into consideration my estimation of the home's value, current market conditions, projected market risk, borrower financials, outstanding loans, and more. You'll be able to unlock a portion of the overall equity you have in your home upfront, prior to selling the home and will receive the remainder of your equity after the home sells, less program fees and expenses.
You can use your Equity Unlock Amount for more than a down payment on your new home. You can also use it for:
• Moving expenses
• Closing expenses
• Property repair
• And more
There is no limit to how many cumulative days a property has been listed on the market at time of submission. However, the total number of listed days can affect your Equity Unlock Amount based on the risk profile of the property
HomeLight partners with top agents nationwide to make buying and selling a home simpler, more certain, and satisfying for all. We will work closely with you to sell your home. If the current home does not sell within 90 days of the closing of the new home, HomeLight will buy the property and continue to work with the listing agent to sell it. Any profits from the sale, after deducting HomeLight’s incurred costs, will be distributed to the client.
There is no catch! You are paying to use the program but the savings and gains created outweighs the cost of the program
2.4% of the home sale.
Thanks to the structure of the program, you might be able to save up to 1-3% of the purchase of your new home with a non-contingent offer, and sell your existing home for up to 5-10% more³ by listing it unoccupied and potentially staged.
Get the most of the program for your clients and become an expert in Buy Before You Sell with this Webinar.
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HomeLight Home Loans, Inc. NMLS ID#1529229, Equal Housing Lender.1375 N. Scottsdale Rd., # 110, Scottsdale, AZ 85257 | Telephone 844-882-3283
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