Creative mortgage structures like bridge loans and buy-before-you-sell solutions can enable home purchases for buyers who lack cash at closing, allowing them to leverage market opportunities and negotiate favorable terms when primary contracts collapse.
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We got Ben a house for $62,000 less than expected and he did not bring a single dollar to closingAjouté :
We got a house for $62,000 [music] less than expected and my client didn't bring a single dollar to closing. Ben, he came [music] to us.
He is retired. He is on a fixed income.
He's moving to Dallas because he wants to be closer to his family. So, for him the monthly payment it's like everything, [music] okay? The challenge is he wanted to buy before he was selling his current home. [music] So, he did not have the liquidity to bring the cash to closing, which is where most people start to feel like stuck and they feel like they have to compromise. So, we did [music] not force a traditional structure. We set up a bridge loan. We did a buy before you sell. We didn't have to perfectly time like everything, [music] all right? Now, here's where it flipped. The house he wanted was already under contract. Most people they walk away. We stepped up. We made a backup offer because deals actually fall apart more often than you'd think, all right?
That's first contract. It started to drag, all right? [music] And the seller they got like kind of frustrated. They were like, "Oh!" And then it like officially collapsed. Boom! We [music] jump in. We negotiate 40,000 off the list. We get $22,000 in seller concessions. We buy that interest rate down. We get him that $2,300 a month payment. We have it set up where he brings $0 to closing because that payment, that lifestyle, that's important to him. Now, most people think you have to move super fast and make hope everything works out. No, no, no.
We put the structure together [music] up front. We were in a position of leverage. We were able to jump when the opportunity popped up. So, if your situation [music] feels complicated, that's where I do my like best work.
Reach out.
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