Bridge Loans: What Are They and How Might They Help You?
By Scott Neasham, REALTOR & Home Listing Specialist in Newton, IA
(RE/MAX Concepts)
Imagine for a moment that after looking at houses for sale you found the perfect new home for your family. It's in the right neighborhood that you've always wanted to live in and you absolutely love it! The problem is that you haven't sold the home you own now. You could make an offer on the new home contingent on selling your existing home first, however, most sellers are reluctant to accept such an offer. If they do accept your offer, you will probably end up paying more for the property as a result. Having to make a contingent offer almost always results in a major loss of your negotiating power. Writing a contingent offer may also cause you to become more desperate when trying to sell your home first. You may accept an offer you wouldn't normally have considered just because yo...
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