Buy before you sell guide

Buy before you sell guide

Your point of contact

When you use our Buy before you sell service to purchase a home, there are actually two transactions. First we buy the home with cash for you (the newbuilt.realestate Purchase), then you buy it back from us (the Customer Purchase). Here’s more detail about what happens at each step of the process.

1. Get approved

We approve you for a specific amount so you can start shopping and be ready to make an offer as soon as the house you want comes on the market.

WHAT HAPPENS AT THIS STEP

You will

  • Fill out our application.
  • Work with a Loan Officer Assistant to provide any necessary documentation. Please check your email (and spam folder) frequently and promptly return phone calls. We often have follow-up questions during this step, and the faster you respond, the faster we can reach an approval decision.
  • Meet your Customer Experience (CX) Manager, who becomes your point of contact at newbuilt.realestate once you’re approved.

Your agent will

  • Search for a home that meets your criteria if you haven’t already found one.

Behind the scenes

  • The Valuations team reviews the house you want to sell to ensure it meets our criteria.

Your point of contact

  • The Valuations team reviews the house you want to sell to ensure it meets our criteria.

2. Make a newbuilt.realestate Offer

We work with your agent to make a cash offer on your next home.

WHAT HAPPENS AT THIS STEP

You will

  • Work with your agent to submit an offer request to us.
  • Research your financing options and choose a lender. If you're using newbuilt.realestate Mortgage, schedule a call with your Loan Officer to review the loan terms and pricing.

Your agent will

  • Submit an offer request through their Agent Dashboard.
  • Work with your CX Manager to write a newbuilt.realestate Offer.
  • Submit the newbuilt.realestate Offer to the seller’s agent.

Behind the scenes

  • The Valuations team reviews the home you want to make an offer on to determine if it's eligible for our program.

Your point of contact

Customer Experience (CX) Manager

  • Your CX manager can answer any questions about the newbuilt.realestate program.
  • Log into your Customer Dashboard to find your CX Manager's contact information.

3. Win the home

The seller accepts your offer. We work with your agent to finalize the purchase.

WHAT HAPPENS AT THIS STEP

You will

  • Pay your earnest money deposit (EMD) and option fee, if applicable.
  • Work with your lender to finalize the details of your loan.
  • Sign the Customer Purchase contract, residential lease, and addendums, securing your purchase and possession of the property from newbuilt.realestate so you can rent your home from us.
  • Sign our Service Agreement Addendum.

Your agent will

  • Work with your CX Manager to draw up the Customer Purchase contract and addendums you’ll sign.
  • Return the home inspection report to your CX Manager for review. Agree on any next steps.
  • Capture any price and/or credit negotiations in amendments to both the newbuilt.realestate Purchase and Customer Purchase contracts.

Behind the scenes

  • The title team completes a title examination, issues a title commitment, and discloses all exception documents to purchase the home.
  • We order the preliminary appraisal of the home and receive the report within five days. Your CX Manager will reach out to review it with you.
  • The Mortgage Processor initiates your loan.

Your point of contact

Your lender

  • Your lender can answer any questions related to your mortgage, such as your closing date, closing costs, etc.

Customer Experience (CX) Manager

  • Your CX Manager can answer any questions about the newbuilt.realestate program. You can find their contact information in your Customer Dashboard.
  • Log into your Customer Dashboard to find your CX Manager's contact information.

4. Move into your new home

Live in your new home while you rent it from us for up to six months. We'll prorate the rent so you only pay for the days you use.

WHAT HAPPENS AT THIS STEP

You will

  • Move in!
  • Put old home on the market within two weeks of newbuilt.realestate purchase of your new home.

Your agent will

  • Give you your keys on closing day.
  • Update newbuilt.realestate on the status of showings for your existing home.

Behind the scenes

  • Your prorated rent starts accruing on the new home.

Your point of contact

Customer Experience (CX) Manager

  • Log into your Customer Dashboard to find your CX Manager's contact information.

5. Sell your existing home

If you haven’t already, put your old house on the market and sell it for top dollar.

WHAT HAPPENS AT THIS STEP

You will

  • Work with your listing agent to review and negotiate any incoming offers.
  • Let your CX Manager and lender know when your home goes under contract

Your agent will

  • Send a copy of the sale contract for your old house to the CX manager.
  • Verify that your lender is using the most up-to-date and complete version of your purchase contract.
  • Provide a target date for you to buy back your new home from newbuilt.realestate.

Behind the scenes

  • Your title company prepares and closes the sale of your old house.
  • Your title company works with your lender to prepare to close on your new home.

Your point of contact

Your lender

  • Your lender can answer any questions related to your mortgage, such as your closing date, closings costs, etc. If you’re using newbuilt.realestate Mortgage, you can find your LO’s contact information in your dashboard.

Customer Experience (CX) Manager

  • Your CX manager can answer any questions about the newbuilt.realestate program. Log into your Customer Dashboard to find your CX Manager's contact information.
  • Log into your Customer Dashboard to find your CX Manager's contact information.

6. Buy back your new home

Secure a mortgage and close on your new home by buying it back from us.

WHAT HAPPENS AT THIS STEP

You will

  • Your lender will order a final appraisal of the home. We used a preliminary appraisal for the newbuilt.realestate Purchase. But mortgage regulations dictate that your final appraisal be dated after the newbuilt.realestate Purchase.
  • Work with a Mortgage Processor to collect all necessary documents and work towards getting the clear to close.
  • Discuss your closing disclosure (CD) with your Loan Advisor.

Your agent will

  • Verify the lender is using the most up-to-date and complete version of your purchase contract.

Behind the scenes

  • We'll provide you with a final rent invoice and any applicable discount credits.

Your point of contact

Your lender

  • Your lender can answer any questions related to your mortgage, such as your closing date, closings costs, etc.

Customer Experience (CX) Manager

  • Log into your Customer Dashboard to find your CX Manager's contact information.
 

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Copyright © 2022 NewBuilt.RealEstate. All rights reserved. Texas Real Estate Commission Consumer Protection Notice | Texas Real Estate Commission Information About Brokerage Services. Prices, specifications, square footage, features, amenities, floor plans, elevations, designs, and availability vary and are subject to changes or substitution without notice or prior obligation. Dimensions and square footage are approximate and may vary upon elevations and/or options selected. Elevation materials may vary per subdivision requirement.