Case Study: Our clients want to sell their home and move to the husband’s hometown out of state, but will timing and financing align? We figure out a way to make it work.  

Problem: A couple looking to move to New Hampshire own their Massachusetts home. But with today’s tighter lending rules, most mortgage companies and banks will not issue a mortgage on a new home if your current one hasn’t sold. The days of bridge loans are more or less over. Our clients are flummoxed by the timing issue.  

Solution: We laid out a few options: 

1) They could first put their house on the market with the stipulation that the sale is subject to their finding suitable housing 

2) They could first find the N.H. home of their dreams, and make their offer contingent on selling their Massachusetts home. In a hot market, with multiple offers on homes and people waiving all sorts of contingencies, a seller might need to sweeten the deal by making an offer significantly over the asking price.

 3) They could sell their home and temporarily rent while hunting for their new home. 

They chose #2 and with the Presti Realty Group’s negotiating on their behalf, they got their house without paying over asking.  

All in a Day’s Work: Solving Real-Life, Real Estate Problems for our Clients is a monthly feature brought to you by Marie Presti of the Presti Group, Inc. Our agents specialize in luxury homes, rehabilitations, multi-families and condominiums in urban, suburban and exurban areas throughout the Greater Boston area. Marie Presti is a Certified Negotiation Expert. For more information, visit http://www.theprestigroup.com