we're planning to buy a bigger house. but first we're looking for an agent to make an offer to buy out house guarantee in our house.

Asked by Oxford36, 36203 Tue Sep 28, 2010

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Kevin Olson,…, Agent, Colorado Springs, CO
Tue Sep 28, 2010
Guarantee programs have been changing a lot lately, not in favor of the homeowner either. In most cases you will need to sell before buying the next home so a guarantee shouldn't matter. A lender who is seeing if you are approved for the next home will not count your home as sold because there is a guaranteed purchase program on it, the home has to officially be sold. In our MLS, agents who participate in this program have a very high rate of cancelled and/or expired listings, and I don't look at this as something that is benefiting a lot of homeowners. Just a thought I'm passing on.
Web Reference:  http://www.liveinsprings.com
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Barry Lynn M…, , Trussville, AL
Tue Sep 28, 2010
No guarantee but I would be happy to assist you with the sale of your property.

The only guarantee programs I know about will only pay you 80% of the appraised value and you have to have that much equity before listing.
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Jeanne Feeni…, Agent, Basking Ridge, NJ
Tue Sep 28, 2010
Hi Oxford, this is a good place to begin your search for resources, including agents. There are a few that do offer this type of guarantee - so take the responses you get here as a start, also call local brokerages to tap additional resources. Interview the agents, get a very good understanding of their "guarantee" program and then you'll understand your options, the terms of the guarantee, and can make a good decision.

I recently attended some training and there were a few agents that do offer this type of guarantee - evaluating the property's marketability is an important part of their evaluation of whether to take it on. By going through the process of evaluating options and agents, you will get a good understanding of whehter this route is possible and if so, the best path to take.

Good luck to you on both the sale and purchase.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
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