Is there a special loan for relocating?

Question

We are possibly going to move for work. How do you buy another home in another town, while you are still trying to sell your home? Is there any loans for that?

Answer 1

there sure is. Talk to your banker and borrow against the home that is up for sale and when it is sold the bank gets its money first. These loans usualy are at less cost than many other loans.

If you have enough equity in the home and if you do not already have too many loans against it.

On the other end you tell them up front that nothing can be final until the house is sold and the money is deposited.

Be very sure to listen to every word and know what is truly said.

Be sure you understand every word in all the contracts. Do not think you automatically do because most people do not.

It is not difficult but it is time consuming and frustrating some times.

I have done this several times over the years and might do it again.If you buy and sell wisely you can gain each time. The last house I bought was paid for in cash full and final from the profits of the other houses.