It’s the easy button you’ve been waiting for without leaving money on the table.
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 $ 1,100,000
Homelight Guaranteed Price $990,000
Estimated Homelight Trade-in Fee $ (16,500)
Estimated Commissions, Closing, and Repair Costs $ (79,230)
Estimated Loan Payoff $ (340,000)
Equity for new home purchase $ 564,268
Actual Sales Price $ 1,250,000
Actual HomeLight Trade-In fee* $ (18,750)
Actual Commissions, Closing, and Repair Costs $ (88,980)
Additional proceeds after market sale $250,200
Total equity received from sale $ 1,161,020
HomeLight is a venture backed Real Estate technology firm based in San Francisco. Its mission is to empower people to make smarter decisions during one of life’s most important moments: buying or selling their home. It does so by leveraging technology to identify the BEST Real Estate agents in the area and connect them with buyers and sellers. Through Homelight’s lending arm it has also created innovative products to take the pain and uncertainty out of the home buying process.