Unleash Your Home Buying Power: Transform into a Cash Buyer with our Buy Before You Sell Program

The real estate market has become extremely competitive, and for buyers with homes to sell before they can purchase a new one, this can be a frustrating process. Bryan David, broker-owner of Expect Realty, has some exciting news that can help. 

The current market has seen some incredible interest rate increases, and while inventory is still historically low, it has started to rise again. Even though homes that are listed right are selling at a good price, the average price on the Mississippi Gulf Coast is still up year over year, with higher days on the market and price reductions.

Sellers are still reluctant to accept an offer that has a home sale contingency, which means many buyers who have to sell their homes first cannot purchase new ones. With the Buy before you sell cash buying program, buyers can purchase a home as a cash buyer. This is significant because sellers prefer the confidence of a cash buyer over a loan that they have to deal with. Loans have appraisals, loan contingencies, and buyers have to qualify, which can lead to issues. A cash offer can close quicker, and sellers are much more inclined to accept a lower offer if it’s cash.

The best benefit of this program is the ability to close on the first house and move in before selling the current house, which takes all the stress off. It’s easier to make repairs and get the house ready to show to buyers while not worrying about where to stay. This means less hassle and more money in your pocket.

Another benefit of this program is that it will buy your rate down by one point over the course of the first year. So, if your rate is 6.5%, they will buy it down to 5.5% for the first year. At the end of that first year, it will go up to 6.5%, but if you can take advantage of it, it’s a huge savings. The program also offers five-year rate protection. Over the first five years of your loan, if rates go down, they will waive lender fees and appraisal fees and let you refinance at that lower rate. These are available as of the date of the post but are subject change at the providers discression.

However, this program is not for everyone, as it is limited to primary residence and single-family homes only. It is not available for investment properties, auction homes, second homes, manufactured homes, or land. For new construction and condos, the program is approved on a case-by-case basis. This program is also limited to homes in the $200,000 to $1 million price range. Anything over a million is not eligible, and anything under $200,000 is not eligible.

The Buy before you sell cash buying program requires a much higher earnest money deposit than what buyers are accustomed to on the coast. At the time of this video, it’s 3%, and there is a service fee to take advantage of this program. For Mississippi, it’s 1.5% of the purchase price of the new home.

Overall, the Buy before you sell cash buying program is an excellent opportunity for buyers to outmaneuver other buyers in a highly competitive market, give sellers the confidence they need to give you a great deal on the home, and take the hassle and stress out of selling your home while getting top dollar for it. 

If you’re ready to buy a home in Gulfport, MS, Expect Realty is here to help. Our team of experienced agents will work with you every step of the way to find the perfect home that meets your needs and budget. With a focus on excellent customer service, we’ll make the home buying process as smooth and stress-free as possible. Give us a call at (228) 215-1861 to schedule a consultation and start your home buying journey today!

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