Article: Crossing The Gap From This Home To The Next: Bridge Loan
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Crossing The Gap From This Home To The Next: Bridge Loan
So you?re thinking of getting into a bigger house. You call up the real estate agent and make an appointment to go see what the market has to offer. Then you find it, the perfect ?move-up? home. It?s everything you?ve ever wanted in a home unless your married, in which case it?s everything your wife has ever wanted in a home.
You?d make an offer right then and there but realize you need to sell your old home before you can by this one. You haven?t even put your old house on the market yet. What to do?
The real estate agent advises that you could make what?s called a ?contingent offer?; buying the new house is ?contingent? on you selling the old one.
?Oops?, says the agent, ?Your old home isn?t even listed yet? You may have wanted to do ...
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