Henri Gourd 914-954-3897 henrigourd@bhhsne.com How do I BUY if I do not have the money from my SALE? With bridge loans a thing of the past, how do you manage buying a home when you do not have the cash in-hand from selling your current home? There are a few options to this dilemma. Short-term rentals can help with the transition. Moving into a rental for a few days (think Air BnB or a hotel) or several months, add an extra move in/move out step but ultimately allow you to get to your desired goal. Such rentals may be available either on the open market or through less publicized channels. Some apartment houses offer short-term stays and you should not overlook negotiating with hotels for discounted rates on an extended stay. Another tool to help bridge the gap is to try to negotiate with the buyer of your current home to see if you can stay on after the transaction closes at which point you go from owner to tenant. An attorney can provide you with a Use and Occupancy Agreement, similar to a lease, to set out the specific terms. In some parts of the country, there are 3rd party companies which will pay cash to buy the home you want and hold it until you sell your current home and get a mortgage to purchase your new home back from the 3rd party. Every case is different but keeping an open mind and creative thinking can often help you get past hurdles to reach- ing your goals. BERKSHIRE HATHAWAY Home Servi New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com How do I BUY if I do not have the money from my SALE ? With bridge loans a thing of the past , how do you manage buying a home when you do not have the cash in - hand from selling your current home ? There are a few options to this dilemma . Short - term rentals can help with the transition . Moving into a rental for a few days ( think Air BnB or a hotel ) or several months , add an extra move in / move out step but ultimately allow you to get to your desired goal . Such rentals may be available either on the open market or through less publicized channels . Some apartment houses offer short - term stays and you should not overlook negotiating with hotels for discounted rates on an extended stay . Another tool to help bridge the gap is to try to negotiate with the buyer of your current home to see if you can stay on after the transaction closes at which point you go from owner to tenant . An attorney can provide you with a Use and Occupancy Agreement , similar to a lease , to set out the specific terms . In some parts of the country , there are 3rd party companies which will pay cash to buy the home you want and hold it until you sell your current home and get a mortgage to purchase your new home back from the 3rd party . Every case is different but keeping an open mind and creative thinking can often help you get past hurdles to reach ing your goals . BERKSHIRE HATHAWAY Home Servi New England Properties Selling it all , from cottages to castles !