How to Fill the Gap Between When You’re Buying and Selling Your Home at the Same Time
13 Oct 2022 by Marloni Pedrosa "Realtor"

How to fill the gap between when you’re buying and selling your home at the same time

Here are some ideas:

-Alert everyone you know

Know that youʼre looking for a rental.

-Rent-Back Agreement

The buyer of your home agrees to allow you to stay in your home for a period of time (60–90 days) after the sale is final. In exchange, you allow for a lower selling price or rent paid to the buyers.

-Contract Contingency

This is when you make an offer on your new home that states your purchase is contingent (or dependent) on the sale of your current home.

Bad Options to Avoid:

Donʼt be fooled by options your lender may offer to “help” you cover the financial challenges of buying and selling a home at the same time.

These are loans that simply multiply your risks:

– Bridge loan: A bridge loan allows you to tap into the equity of your current home to pay the down payment on your new home. Itʼs basically a short-term loan that has to be repaid quickly.

– HELOC: This loan also gives you access to your homeʼs equity so you can use it on the down payment of your next home. But the HELOC (Home Equity Line of Credit)is dangerous because it usually comes with call provisions.

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Marloni Pedrosa "Realtor"

Being a resident for more than 15 years here in Las Vegas and Henderson Nevada has taught Marloni a lot about the American Dream of owning real estate and what values best help you achieve that dream. Working in the medical field for several years has reinforced his belief that we have all been allowed of freedom to live our life the way we choose, particularly for our family. That freedom for me is fulfilled through the stewardship of providing real estate services to others so that they, too, can achieve the dream they long for their family.

He is proud to be part of the NO. 1 Mover and No. 1 Independent Brokerage in 2021 with EXP Realty. This is thanks to the extensive digital marketing training he's taken that allows him to craft innovative and effective advertising campaigns that result in the best possible offers for his home seller clients.

If you're thinking about moving to Las Vegas/Henderson Nevada, or to any of the surrounding communities, be sure to give me a call, shoot me a text, send me an email, or schedule a Zoom call. We'd love to help you make a smooth move to Las Vegas/Henderson Nevada!

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Marloni Pedrosa Las Vegas Nevada | NV Real Estate License: S.0185467
EXP Realty

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