Real Estate - Anne Marie Reggie

Need to sell first? Using equity? What are Bridge strategies?

Here are some common questions buyers might have before planning their next move

I want to move, but do I buy first or sell first?

This is the ultimate catch-22 of real estate, and the answer depends entirely on your financial goals, your current home equity, and market conditions. Buying first ensures you find the perfect next home without pressure, while selling first ensures you know your exact budget. Fortunately, you don’t have to guess—we analyze your specific situation to design a customized strategy that minimizes stress and protects your equity.
What is a "Bridge Strategy," and how does it help me buy before I sell?

A bridge strategy allows you to unlock the equity trapped in your current home to buy your next property before your current home even hits the market. This means you can shop with confidence, make strong offers, and move into your new home leisurely without having to pack and move twice.
What are the most common ways to access my equity to buy my next home?

There are three primary modern tools we look at when structuring a bridge strategy:

- Bridge Loans: A short-term loan that bridges the financial gap between your current home and your next one, secured by your existing equity.

- Home Equity Line of Credit (HELOC): Tapping into your current home's equity to secure a down payment for the new property while keeping your current low interest rate intact until you sell.

- Buy-Before-You-Sell Programs: Specialized modern real estate financing programs that allow you to make a cash-like offer on a new home, buy it, move in, and then sell your old home completely vacant for top dollar.
Can I make an offer on a new home that is contingent on selling my old one?

Yes, this is called a Sale Contingency. However, in competitive markets like Long Beach, sellers often prefer non-contingent offers. If we do use this strategy, we ensure your current home is "market-ready" or already under contract, making your offer as attractive and strong as possible to the seller.
What if I sell my home first but can’t find a new house in time?

We prevent this by writing a Seller Leaseback (or Rent-Back) into your sales contract. This legal agreement allows you to close escrow, get your money from the sale, and continue living in your home as a temporary tenant for 30 to 60 days. This gives you the cash in hand and a stress-free window to close on your next purchase.

BUYING YOUR NEXT HOME