Pricing could not be simpler. In addition to paying typical Real Estate commissions, closing costs, and repair expenses, there is a fee that typically runs about 1.5% of the home you are selling. We find that most clients will recoup some or all of this fee by being able to make a stronger non-contingent offer on a new home AND getting top dollar for the existing home being vacant and all cleaned up. Below is a cost breakdown from an actual client.
Market Valuation $ 800,000
Homelight Guaranteed Price $ 720,000
Estimated Homelight Trade-in Fee $ (12,000)
Estimated Commissions, Closing, and Repair Costs $ (88,000)
Estimated Loan Payoff $ (343,000)
Equity for new home purchase $ 277,000
Actual Sales Price $ 830,000
Actual HomeLight Trade-In fee* $ (12,450)
Actual Commissions, Closing, and Repair Costs $ (72,210)
Additional proceeds after market sale $ 97,550
Total equity received from sale $ 374,550
Apply here. You’ll work with Kinship Real Estate to fill out your HomeLight Cash Offer application, a HomeLight representative will be in touch to discuss your home buying goals.
You can also get a head start on the home buying process by completing your mortgage application through HomeLight Home Loans.
HomeLight charges a fee to use our funds to make an all-cash offer and purchase the home on your behalf. The fee is dependent on your market, the lender you use, and the number of days HomeLight owns your home. All fees are calculated off of the final selling price of your current home. Additional costs may apply based on local tax laws. Additional costs may apply based on local tax laws.
Email [email protected] for more details.
Kinship Real Estate and HomeLight work together throughout the buying process to help you get the home of your dreams.
HomeLight Cash Offer is currently available in California and Texas but things like where you’re located, the size, and condition of your will determine eligibility. Enter your information here to be notified when HomeLight Trade-In launches in your area.
Based on Chauner, Bailey. “How to Win a Real Estate Bidding War.” Redfin, 22 Nov. 2019, www.redfin.com/blog/win-bidding-war-on-house/
**When you use HomeLight Home Loans on your new purchase, the HomeLight Cash Offer fee is 1% of the home purchase price. If you use another mortgage lender, the HomeLight Cash Offer fee is 3% of the purchase price.