Home Builders Buy: Your Existing Home
While every builder varies, the process generally follows one of these structures:
: You avoid the hassle of staging, showings, and open houses while living in the home. home builders buy your existing home
: The builder (or a partner company) buys your home outright at a predetermined price, usually shortly before you close on your new home. While every builder varies, the process generally follows
: You typically stay in your current home until the day your new one is ready. : By securing a buyout offer, the builder
: By securing a buyout offer, the builder treats you as a "non-contingent" buyer, allowing you to lock in a new construction contract immediately. 2. Common Benefits
: Closings are often coordinated for the same day, preventing temporary housing costs.
: The builder lists your home through their preferred brokerage. If it doesn't sell by your new home's completion date, the builder’s partner buys it from you for a guaranteed backup price.