Buy Before You Sell — Lendia California
What Happens If My Current Home Doesn’t Sell in Time?
This is one of the most important questions to ask before committing to a Buy Before You Sell program. The answer varies by provider, but here is a general overview of what can happen and how to protect yourself.
Possible Outcomes
- Extension: Some programs offer an extension period — typically at additional cost — if the home has not sold by the deadline. This gives you more time to find a buyer.
- Provider sells the home: Certain BBYS platforms reserve the right to list and sell the departing residence themselves if it has not sold within the window. The sale may be at a price that prioritizes speed over maximum proceeds.
- Repayment required: If no extension is available and the provider does not take over the sale, you may be required to repay the bridge or advance from other funds.
How to Protect Yourself
- Price your home competitively from the start — overpricing is the most common reason homes sit on the market
- Work with an experienced California listing agent who knows your local market
- Understand the exact terms of your BBYS agreement before signing — specifically what happens at the deadline
- Have a backup plan if the sale takes longer than expected
Reality Check for California
In most California markets, a well-priced home in good condition will sell within 30–90 days. If your home is correctly priced and properly marketed, running out of time is an unlikely scenario. But it is always worth understanding the downside before you proceed.
- What Is Buy Before You Sell and How Does It Work?
- Who Qualifies?
- BBYS vs. BYOC — What Is the Difference?
- How Is the Departing Residence Handled?
- Do I Need to Sell First?
- How Is Income Qualified with Two Properties?
- What Loan Types Are Compatible?
- How Long Do I Have to Sell?
- What Happens If My Home Doesn’t Sell in Time?
- What Are the Fees and Costs?
- Is It Available for Investment Properties?
- How Does It Affect My DTI?
- Is It a Good Fit for California’s Market?