At Orchard, we know that buying and selling a home at the same time can be a huge headache. There’s a lot to worry about, from finding your dream home to getting a great offer on your current home to trying to line up the timing just right.
That’s why we created a way to buy your dream home before you sell your old home, all without the stress and uncertainty of the traditional process. And as a bonus, we guarantee that your current home will sell within 90 days for market price. Wondering how it works? Let’s walk through the Orchard Buy & Sell process.
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1. Get your guaranteed sale price
You’ll kick things off by telling us a bit about your home. We’ll use our technology and local expertise to calculate an estimated sale price. Then, after a home visit with your Home Advisor, we’ll schedule a complimentary inspection to take a closer look. You’ll also receive a copy of your inspection report, putting all of your property information at your fingertips. (Learn more about the benefits of a pre-listing inspection here.)
Based on your inspection results, we’ll refine our estimate and give you a guaranteed sale price to put toward the home you want to buy. The guaranteed price gives you the freedom (and equity) to start house hunting without your home sale holding you back. We’ll also help you begin your mortgage pre-approval so you can get a lender’s expert opinion on your house hunting budget.
2. Start your home search
It’s time to start shopping! Your Orchard Home Advisor will send you new listings that meet your criteria as soon as they hit the market. After narrowing down your home search to a few of your favorites, we’ll arrange for you to tour them.
In the meantime, we’ll start prepping for your home sale. You’ll sign some documents to confirm that you’ll be working with us to buy and sell your home. You’ll also begin prepping your home for listing to help it sell for top dollar. That includes decluttering and making minor repairs, while we arrange for professional photos.
3. Make an offer
Once you find your dream home, it’s time to seal the deal. Your Home Advisor will help you negotiate an offer that’s both well-researched and comfortable for your budget. Many homebuyers have to add home sale contingencies to their offer, which means they’ll only buy the home once they sell their current one. Sellers may be reluctant to accept a contingent offer since there’s a chance that the sale will fall through. Luckily, with Orchard, your current home is guaranteed to sell, so you can make a competitive, contingency-free offer on your new home.
When your offer is accepted, you’ll sign the purchase contract, which includes paying for an earnest money deposit and option fee. Next comes your option period, which you can use for home inspections to get a better idea of the home’s condition. Your Home Advisor will help you request any necessary repairs or seller concessions. The option period is also a great time to prepare for closing with our recommended partner, Orchard Title.
4. Close on your new home
Let’s make it official. On your closing day, you’ll sign a few documents to sell your current home to Orchard at the guaranteed sale price. You’ll also close on your new home, and the title will be transferred to your name. Your keys will be presented to you at the closing table, officially making you a new homeowner!
5. List your home
Now that your new home purchase is a done deal, your Home Advisor will officially put your old house on the market. They’ll be reaching out to interested buyers and marketing your home on across the internet, as well as on your local MLS, and directly to our Orchard database. They will also host an open house and/or showings to help bring as many qualified buyers in the door as possible.
Our Home Advisors are committed to getting you the best offer possible for your home sale. As the bids start rolling in, they’ll work with you through negotiations with prospective buyers.
6. Sell your old home
As you settle into your new home, there’s no need to stress about selling your old home. Your Home Advisor will take care of everything, keeping you in the loop with regular updates. We’re confident you’ll receive a strong offer by the end of your 90-day listing period. Once we sell your home, you’ll receive any additional proceeds above the guaranteed sale price. If the market changes or an offer falls through after 90 days, you’ll still keep your guaranteed sale proceeds and Orchard will handle selling the home.
And there you have it! The Orchard Buy & Sell service is a great way to sell with certainty and buy contingency-free, while still getting top dollar for your home and moving on your own schedule. Ready to get started with the stress-free way to buy & sell? Start by getting your guaranteed sale price: