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Great buyers, little options

By Alyse "Aly" Sands

Real Estate Broker/Owner with AGORA Realty #271029

February 12, 2009 01:13 PM

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Zilkia Olmeda-Martins

RE/MAX North - San Antonio - San Antonio, TX

GRI, Realtor, San Antonio Texas Luxury Homes

If it was easy, everyone would want to do this... :-) I hope things work out for you and your client Alyse.

Feb 12, 2009 01:16 PM

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239

Real Estate One - Commerce, MI

Michigan homes for sale ~ yesmyrealtor@gmail.com

It is happening around the country. Hopefully his home sells and he gets some money out of it.

Feb 12, 2009 01:42 PM

Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty

Leolinda Realty - Surprise, AZ

Sun City Grand in Surprise Arizona

I too hear the same story many times every day. I can't buy until I sell.

Buyers are really concerned about the probability that their home will not sell thereforeI don't even suggest a bridge loan. Renting is the key since the client can really negotiate on the rental.

Feb 12, 2009 02:08 PM

Alyse "Aly" Sands

AGORA Realty - Nashville, TN

It's Good To Be Home

This could be done with a high LTV and since his company will make payments on the new house until the old one sells it would be a great scenario...but the highest LTV possible is 85%.

Thanks for the thoughts.

Aly

Feb 12, 2009 03:27 PM

Todd Clark - Retired

eXp Realty LLC - Tigard, OR

Principle Broker Oregon

My parents had the same problem with buying a new home. They had their home paid off and were buying a home that appraised for $700,000 for only $250,000. They had a combined credit score average of over 800 and were putting $50,000 down and it was like pulling teeth to get the bank to loan to them. If we are going to get out of this mess, the banks need to think and actually loan the money. There are only so many cash buyers in this world.