1. Get a guaranteed offer from HomeLight
Once approved you will receive a guaranteed offer on your current home. That’s the price you will be paid for your current home as soon as you’re ready to move into your new home.
2. Make a winning offer on your new home
When you’ve found the home of your dreams, Magnetic Residential will be ready to write the offer with no lending or home sale contingency. This means you’re more likely to win and can close on your own timeline.
3. Move in on your schedule
Once your offer is accepted, everything comes together in days, not months. You get the cash to close on your dream home and control when you move.
4. Keep all the upside
Once you’re out of the old house we will fix it up like a shiny penny and sell it. If it sells for more than the guaranteed price YOU get to keep the extra.
What It Costs
Pricing could not be simpler. In addition to paying typical Real Estate commissions, closing costs, and repair expenses, there is a fee that typically runs about 1.5% of the home you are selling.
We find that most clients will recoup some or all of this fee by being able to make a stronger non-contingent offer on a new home AND getting top dollar for the existing home being vacant and all cleaned up. Below is a typical cost breakdown for a Homelight Trade-in.
Market Valuation $ 800,000
Homelight Guaranteed Price $ 720,000
Estimated Homelight Trade-in Fee $ (12,000)
Estimated Commissions, Closing, and Repair Costs $ (88,000)
Estimated Loan Payoff $ (343,000)
Equity for new home purchase $ 277,000
Actual Sales Price $ 830,000
Actual HomeLight Trade-In fee* $ (12,450)
Actual Commissions, Closing, and Repair Costs $ (72,210)
Additional proceeds after market sale $ 97,550
Total equity received from sale $ 374,550
Who is Homelight
HomeLight is a venture backed Real Estate technology firm based in San Francisco. Its mission is to empower people to make smarter decisions during one of life’s most important moments: buying or selling their home. It does so by leveraging technology to identify the BEST Real Estate agents in the area and connect them with buyers and sellers. Through Homelight’s lending arm it has also created innovative products to take the pain and uncertainty out of the home buying process.
You can learn more about HomeLight here.
Who is Magnetic Real Estate
Magnets attract, and here at Magnetic Residential, we’re all about attraction. Attracting your dream home when you want to buy. Attracting the right buyer when you’re ready to sell.
We understand how life-changing it is to enter the property market, and we’re not afraid to take bold action to help our clients experience those changes. After all, we got into the real estate industry to help people like you find their perfect homes and build more abundant lifestyles. No matter where in Sacramento you want to put down roots, we can help you find a property that encourages growth.
For us, it’s not just about getting the best price. We want to give you the right information at the right time, with knowledge gained through our extensive experience and the latest technology. We’re not afraid to tell it like it is, so you can be confident you’re getting honest advice. Our candor and expertise empower you to make an educated decision — one that lets you continue building a better life for you and yours.
Let us know your name and contact info and we will reach out and explain the process in detail so you can choose whether or not to be qualified and get your guaranteed price. Or you can call us now (916) 672-2274