It’s not news that inventory is a problem for home buyers in and around Denver. As such, most people won’t put their home on the market until they know where they are going. It’s a chicken or the egg scenario because you can’t find a buyer for a home if someone doesn’t decide to sell first.

As such, we have been telling our clients now for the better part of the last three years that they can actually buy their new home before they sell their current home. “But Dan, I need the money out of my current home to buy my next home!”

I know you do, so here is what we are doing:

We set you up on multiple searches for your next home (meaning MLS, for sale by owner, new construction, and door knocking neighborhoods). Once these searches are set up you can take your time looking for the perfect home for you. While this is going on, we are aligned with a few local banks that will help us do a home equity line of credit on your home. We can get this done with no appraisal, no income docs and very little paperwork in as little as 10 days. So, let’s say you have $150K in equity in your home (you may have more or less) and you need that for a purchase of a new home. We’ll get a home equity line of credit set up so we can pull that money out of your existing home and use it for the down payment on your new home. Once we find the home, we write the contract, get you approved with a lender, and get you to the closing table. Once you have moved out of your current home, that’s when we put it on the market. Since homes are selling in 30 days or less, it won’t be long before it’s sold. In addition, you don’t have to put up with the hassles of showing your home. Once your old home goes to closing, the first and second (home equity line of credit) loans are paid off at closing.

THIS IS ZERO RISK TO YOU and here’s why. If you never find your next home or decide not to move, you don’t need to use your home equity line of credit. Since you never borrowed from it there is no monthly payment. Better yet, if you decide to stay in your home and you want to fix it up, you already have a home equity line of credit in place and you are ready to use it for renovation projects. These home equity lines are usually short terms (2-10 years) and carry very low-interest rates (more often than not they are interest-only payments).

If you would like to explore this option further on how we can help you, please contact us at the Colorado Dream House Team 720-446-6325 or We look forward to speaking with you.