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What To Do When Closing Dates Don’t Match

What To Do When Closing Dates Don’t Match

If you’re planning to sell your existing property and buy your next dream home, the closing dates may need to be on the same day.

If the closing dates overlap, or if the times are far apart, you might be worried about losing the house! These fears are mostly baseless. Every day, thousands of properties change hands, and usually, everything goes well. How often closing dates actually suit is fantastic!
But what if the home you want to buy closes days or weeks earlier than your own property’s closing date?

Most lenders are anticipating this and offering the so-called “Bridge Financing.” This is a special loan enabling you to buy the property with the earlier closing date. The bridge financing ends when your current property closes, and your new mortgage begins on the new home if you need one.

Alternatively, your real estate professional can help you explore options, such as finding a short-term rental, if the property you want has a later closing date.

A good REALTOR® can aide you make the right offer for the property you’re interested in buying or selling. For free valuation, contact us at 401-396-2888. We’re always glad to help!

Need an accurate home evaluation?

YOUR AGENT

Kamil Sarji - Real Estate Agent

 

Kamil Sarji

Real Estate Agent

Licensed in Rhode Island, Massachusetts, and Connecticut

Phone: (401) 396-2888

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ABOUT US

If You're Selling: I know how to present and showcase your house effectively, promote and market it so that it attracts qualified buyers and get SOLD for the highest price possible.

If You're Buying: We start with really learning about your needs and what you're looking to achieve in your new home. Knowing this will help me find and show you the best homes that meet your criteria.

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