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Buying a Home Before Selling a Home: A Guide for Agents
As a real estate agent, you will inevitably have a client who wants or needs to buy a home before selling their current home. This scenario is complex - it requires preparation and teamwork between the seller/buyer, real estate agent, and lender(s) prior to moving forward. 
Here in the San Francisco Bay Area, if you write an offer for a client contingent on selling their current home, your chances of getting the offer accepted are pretty low!
My goal with this guide is to educate and inform you about how the lender contributes to these transactions, what their concerns are, how their guidelines vary, and how to choose a lender or lenders to work with.
Does your client need equity from the current home for the down payment on the new home?
Here are four financing options your client can use to extract the equity from their current home for the down payment on the new home:
Home Equity Line of Credit (HELOC) Cash out refinance Cross collateralization Bridge loan Let's look at each of these options:
HELOC
A HELOC generally has the lowest closing costs associated with accessing the equity. If you have clients who you think may move in the future it would be a ... more

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