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Buy real estate resale – sell to buy | Relay loan

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You want to buy a property but you already have one? The Credither Guide accompanies you in your resale purchase project and explains how to succeed.

You want to sell first to buy ? If your old property was purchased on credit, its resale will pay off the outstanding capital. The surplus can be used to finance part of the new acquisition and therefore forms a kind of personal contribution.

You want to buy before selling your old home? If you are in this case, it is necessarily because you have found THE accommodation of your dreams! So in order not to lose an opportunity that would be difficult to find, you try everything for everything and decide to buy before you even sell. Brave choice and somewhat risky, but not impossible! Adapted financing can be proposed to you, in the first place the relay credit. To help you see things more clearly, the Credither Guide gives you good advice on how to make a successful buy-sell transaction.

The loan relay

The loan relay

Offered by most lenders, the bridge loan is an advance to fund a new property before it has sold its current home.

The loan amount is estimated based on the price of the current borrower property (the one to be sold). It takes into account between 60% and 80% of the value of the latter, depending on the progress of the sale.

The duration of the loan, it is short. It does not usually exceed 2 years. The bridging loan is repaid in part through the resale of the former property of the borrower.

There are two types of bridge loan: the dry relay loan and the associated bridge loan.

The dry relay loan

This is the simple relay loan. In clear the amount of the loan covers your new acquisition. No need to take out another mortgage to complete your financing plan.

The associated relay loan

The associated relay loan

The amount of the bridge loan is determined by the price of your current property. However, the value of this one is often lower than that of the future housing which one wishes to buy. In this case, the buyers will have to supplement their bridge loan with a long-term amortising credit.

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