In the conventional home buying process, you need to sell your current home so you can buy your next one. This leads to rushed decisions and unnecessary stress. Not anymore.
Not only that, you don't have to look for temporary housing to live in. Rather you can do your work while you are at your current home.
With our vendor partner, you get the cash you need to buy before you sell, so you stay in control.*
Make a more competitive, all-cash offer. Cash offers are more likely to beat out financed offers.
Our Finance Partner’s funds give you the peace of mind that your dream house won’t pass you by if you haven't sold your current home.
Secure your next home first, then take your time selling your current home so you get full market value.
One of our agents will be by your side helping you with the buy of your next home and the sell of your current house.
Our Finance Partner lets you secure your next home using their cash, then you sell your
current home for full market value. Here are the steps.
Our Finance Partner approves you for a specific amount so you can start shopping. Plus, you'll get a preliminary floor price so you know what your existing home is worth.
Our Finance Partner works with one of our agents to make a cash offer on your new home.
Once your new home is under contract, your local real estate agent works with our finance partner during the option period to conduct due diligence and secure your new home.
Our Finance Partner completes the purchase of your new home so you can move in or start renovations.
Put your old house on the seller’s market and sell it for top dollar. In the unlikely event that your home doesn’t sell in 6 months, Our Finance Partner will buy it from you.
Now that you’ve sold your existing home, secure a mortgage and close on your new dream home by purchasing it back from Our Finance Partner.
This is not deemed as an offer nor an appraisal or appraised value of your home. When we say “Our Finance Partner” we are referring to a third-party independent relationship that is not related to DORRMAT. Through the process, we will connect you with our Finance Partner representative to go over the terms and limitations of their services and qualification process. This relationship can change its terms so always seek the most current terms from them.
Yes, there are some risks. One of them is the mortgage issue. You might have to end up dealing with two mortgages. If you contact a mortgage lender, they will want you to cover the expenditure of both houses. You have to prove the debt-to-income ratio is sufficient. Another biggest challenge is facing the down payment issue while your investment and equity are tied up with your current house.
There are various ways you can use to buy a new house before selling your current house. Such as selling in the seller's market, buying with a home sale contingency, buying with a bridge loan, using the home equity loan, etc. Among them, the home equity line and bridge loans are more used options.