How to buy and sell your home at the same time in the East Bay: Option 2
10 Ideas for how to buy and sell at the same time in the East Bay Area Option 2
Get a HELOC - Home Equity Line of Credit
So, do you want another idea for how to buy and sell at the same time? Get a HELOC. HELOC stands for home equity line of credit. This line of credit will allow you as a homeowner to tap into and gain access to the equity that's already in your home in order to have a down payment to buy a new home. Many homeowners may already have a HELOC in place, and if not, here's just a couple of tips for you to keep in mind as you go after that home equity line of credit:
1) your home cannot be actively listed in the MLS during your HELOC application process.
2) you'll need to be able to qualify for the new mortgage as well as the mortgage that you already have in order to take advantage of this opportunity.
Sometimes this can prove challenging for some homeowners. Going this route will allow you timing options and flexibility that may help make the leap from one home to the next home. You can list your home while you're still living in it and while it's staged with beautiful furniture, or you could decide to sell your home after you've already moved into the new home. With the home empty, you can paint it, make improvements, and you can put new staging furniture in it. So, if you're looking to create a success formula for how to buy and sell your home at the same time, just reach out to us to us on the web at exploreeastbayhomes.com.