From Cramped Condo to Spacious Single Family, a HomeLight Trade-In Success Story in Denver

Home owner Geetha Sivanandam and her relatives were being residing in a two-bed room condominium in downtown Denver when the COVID-19 pandemic took maintain. Irrespective of investing more time at household than at any time, the Sivanandams had been cozy in their hassle-free place.

For a though, at the very least.

“My daughter experienced just turned 11, and I think she was commencing to outgrow the house,” claims Sivanandam.

Apart from the family’s near quarters growing significantly nearer, their homeowner’s association costs have been steadily rising with the price of particular assessments.

“It was an aged constructing and we discovered a whole lot of other residents promoting, so we started out to imagine it’s possible we need to go also,” she points out. “Interest charges have been reduced, so we assumed, ‘Well, let’s get started seeking.’”

But like so quite a few homeowners in her position, Sivanandam was anxious about the prospect of marketing just one house though obtaining another. How would they come up with a down payment with their money however tied up in their existing residence? Where by would the spouse and children go if their condo sold prior to they had a possibility to near on their future home? And never brain the hassles of striving to retain a tidy property even though simultaneously packing, accommodating the walkthroughs of potential potential buyers, and living day by day life.

Reluctant to commit to a final decision a person way or the other, Sivanandam commenced looking for a attainable remedy. A buddy who experienced recently acquired a household advised her about a firm that tends to make it feasible for any certified purchaser to come to be a cash consumer, and Sivanandam, curious, signed up. But as an alternative of getting instant assistance, she identified herself on a ready listing.

“I believed, effectively, they simply cannot be the only corporation out there doing this, so I began Googling,” Sivanandam says. “That’s how I discovered HomeLight.”

HomeLight Trade-In: no ready required

As shortly as Sivanandam study about HomeLight Trade-In, she took the idea to her true estate agent. With Trade-In, HomeLight would make a assured offer you to obtain the present household. This allows sellers to grow to be buyers to start with, frees up equity in the house, and removes the profits contingency.

“It worked out wonderful because HomeLight Trade-In had just gotten into the Colorado industry,” recalls Sivanandam. “I obtained accredited for the system rapidly and we identified a residence pretty much quickly, like in a couple of months.”

The Sivanandams looked at 5 or 6 properties, and when they located the one particular they wished, their agent inspired them to make an offer at the inquiring cost — a dangerous transfer in Denver’s ultra-aggressive market place, where quite a few offers are manufactured higher than record price tag.

“Because of HomeLight Trade-In, our offer you was so potent — we were being putting around $300,000 down and did not have a gross sales contingency — the vendor took it.”

This intended that the family members correctly upsized to a 4-bed room residence with a basement, a garage, and a spacious backyard.

“All the matters you didn’t comprehend you overlook when you are dwelling in a town!,” laughs Sivanandam.

Offering made easy

Considering that HomeLight Trade-In lets sellers continue to be in their existing households right until they’ve closed on the new a single, shifting out is as anxiety-no cost as feasible. All the cleansing, repairing, or updating of a household comes after emptiness — producing the system far more comfy for sellers and raising the probability of a higher sales price. And if the house sells for extra than the agreed-upon price tag? That cash goes appropriate back again to the seller.

Though the Sivanandams’ apartment took for a longer time to provide than they’d hoped — about 60 times due to their unit competing with others in the making that experienced been lavishly renovated — they even now pocketed some more dollars at the stop of the procedure.

“HomeLight just created it so uncomplicated,” states Sivanandam. “We did not have to be concerned about contingencies and every little thing was out of our palms, which was good. Because we put a ton of money down on the new house, we experienced a complete bunch of equity likely into it and we received $15,000 or $20,000 back again right after the apartment bought. It was great.”

Sivanandam claims she does not imagine her family’s new household would have been probable without the support of HomeLight Trade-In.

“We in all probability continue to could have found and bought a place, but matters would be so unique,” Sivanandam demonstrates. “We’d have a increased home loan since we couldn’t have set a ton of dollars down, we could possibly have experienced to spend for house loan insurance policies, perhaps shell out on equally properties and HOA costs right until the aged a single sold…

“Life is quick now simply because I was equipped to get every thing finished with HomeLight.”

Header Impression Supply: (JDI Investments)