New Construction Builder Guaranteed Sale Program
Looking to buy a new home? Are you ready to build a new home, but you don’t qualify to start construction until your existing home is sold?
DON’T WAIT TO START CONSTRUCTION!!
Now you can get started immediately. We will list your home for sale. If not sold by the time you close on the new home, we will buy your existing home. If you have to sell your home first, this program allows you to start sooner so you can take advantage of today’s interest rates and construction costs.
Contact Linton Hall, Realtors® to determine if your home qualifies for our unique Builder Guaranteed Sale Program. Our experienced guaranteed sale team will evaluate your property and present you with an offer to purchase your home. If you accept the guaranteed offer, you can move forward with contracting a new construction home as a non-contingent buyer.
In almost all cases, builders in Northern Virginia prefer to deal with non-contingent buyers. A non-contingent buyer is a buyer that already has his/her home under a purchase agreement with a third party buyer. Therefore, you need to be a non-contingent buyer in preparation for dealing with your builder and presenting an actual offer to build. This is where we come in! We will actually remove the contingency by making a written offer to purchase your home in the unlikely event it fails to sell before your new construction home is delivered.
The offer on your new construction home will be made subject to your receipt and acceptance of our New Construction Builder Guaranteed Sale Program offer on your present home. Everything is upfront and in writing. You are not obligated, nor committed to accept our guaranteed price until you have worked out favorable terms and details with your builder and the purchase of your new construction.
Generally speaking, simultaneously with the start of the actual new construction build (approximately at the time of installation of your new home’s concrete foundation), your existing home will be marketed for sale through our brokerage company to prospective buyers. This will provide ample time for you to sell to a third party buyer and achieve a higher price above our guaranteed sale price.
If your home sells within the established marketing period to a third party buyer at a price higher than our guaranteed sale price, you get to work with that offer rather than sell to us. If your home has not sold within the designated marketing period, we will buy your home for the upfront predetermined guaranteed price so you can close on your new construction build. Either way, you win!
If you want to move sooner than the 120- or 150-day marketing period allows, you may be interested in applying for interim financing from our preferred lender that specializes in bridge financing. By qualifying for interim financing, you can free up your equity to allow you to close sooner on your new home. If you need money for your construction deposits, we offer equity advancements at very low interest rates and payments deferred until you actually sell your existing home.
You don’t have to miss the home you want because your present one won’t sell – use our Builder’s Guaranteed Sale Program.*
The Five Steps
Decide on the home you want to purchase.
Through your Linton Hall, Realtors® agent make an offer on the home contingent upon a satisfactory New Construction Builder Guaranteed Sale Agreement from Linton Hall, Realtors® on your present home.
Before the offer on the new construction home is considered and accepted by your builder, we will present you with a guaranteed sale proposal. After you accept the proposed guaranteed sale purchase and marketing offer, your home is marketed for a minimum of 90 days or until completion of your new construction build.
If your home does not sell during the marketing period, we will actually purchase it for the agreed price and you close on your new home.
Who Qualifies for our Builder Guaranteed Sale?
ANY HOMEOWNER WHO…
1. Is purchasing a new construction home in Northern Virginia, Maryland, or District of Columbia and has registered Linton Hall, Realtors® as his/her agent with the builder or whom has been referred directly by the builder for our services. (The builder must agree to compensate us an acceptable brokerage fee on the purchase of your new construction build.)
2. Is financially qualified to purchase a new home.
3. Has sufficient equity in his present home (or cash reserves).
4. Has signed a “Guaranteed Sale and Marketing Agreement Addendum” and the “Exclusive Right To Sell Listing Agreement.”
5. Has signed a Guaranteed Sale and Marketing Agreement Addendum at the beginning of the listing period.
6. Is purchasing a home through a builder that endorses our program or is willing to consider our program.
What Properties Qualify?
1. Homes in your area must normally sell within normal market time.
2. Your property must be in good physical condition and be aesthetically pleasing.
What Properties Don’t Qualify?
1. Multi-families, farms, lots, modular homes and rural homes (contact us to qualify your home).
2. Homes outside Linton Hall, Realtors® primary market area. Ask about our geographical coverage area.
3. Homes with mortgage balances greater than their market value, unless you qualify for our “Guarantee Lease Program.”
4. Homes in areas with an overabundance of comparable listings available.
5. Homes listed with other real estate companies.
6. Properties with code violations, toxic materials, or other conditions which adversely affect marketability.
To Be Decided On A Case-By-Case Basis:
1. Condominiums.
2. Properties with wells, septic or aerobic systems.
3. Properties already marketed for over 90 days.
4. Homes with swimming pools.
Advantages of The Builders’ Guaranteed Sale Program
You don’t have to worry about making two mortgage payments, moving to temporary housing, or selling at a “distress sale” price.
Because the sale of your home is guaranteed, you can secure a firm financing commitment on your new purchase before actually selling your present home.
The New Construction Builder Guaranteed Sale Program is the best of both worlds – purchasing your dream home without worry of being unable to sell your old one.
