Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

29
Posts
6
Votes
Jon Ostojic
  • Seattle, WA
6
Votes |
29
Posts

Loans for new primary residence before listing/selling current?

Jon Ostojic
  • Seattle, WA
Posted

Hello. I live in a HCOL area (Seattle), where the market is still relatively hot and a seller's market. My wife and I have started to seriously consider selling our house to move to a nicer area and find a place with an Airbnb unit. But we wife and I are picky about where we want to live, and something that ticks enough of our boxes is very rare. Plus we realistically are still months away from being ready to list.

However today an amazing option went up on the MLS today that I would buy in a heartbeat. But I realistically need the equity from my primary residence to close the deal. Putting in a contingency offer would be a waste of time as this will definitely sell to someone without one. We have enough equity between 3 properties (one listed) to put 50% down in theory, but they review offers in a week and it will 100% sell.

Are there any creative loan options to tap into equity and future sales to make this happen?

Loading replies...