The Goal: Our borrower, Jim was searching for a house at the height of a seller’s market. He found a home and fell in love with it.
The Challenge: Jim was still living in his home, and so he could only make offers contingent on the sale of that house. And the home he liked? He was competing with 26 offers! Jim was fortunate to have a savvy real estate agent who understood the market, and also was familiar with Stonecrest’s products as well as procedures.
The Solution: Stonecrest partnered with the agent to set up a Bridge Loan for Jim, which Stonecrest approved and funded in one day. So the agent was able to quickly make an all-cash offer at a very competitive price. Jim’s offer immediately moved to the head of the list and he was able to purchase his dream home.
