Sell to Flexible while Flexible secures your new property so you can exchange one for the other. Simplify back-to-back transactions: eliminate the pressure to sell your existing property and leverage Flexible’s buying expertise to get a great deal on your new property. A popular option for owners that want to sell and buy within a 1-6 month window.
Get closing certainty so you can focus your attention on finding the right replacement property.
You tell us which property you want and the highest price you are willing to pay. Our Offer Team will do what it does best: get a great offer to purchase your new property accepted by the seller so you don’t lose out to another buyer. Since we’re not a broker, the seller saves on commissions—that means our offer is more attractive than other higher priced offers from buyers represented by a broker.
Flexible transfers the right to purchase the new property to you, then completes the purchase of your existing property so you can close on the new property.
The risk of a synchronous sale and purchase is that one of the transactions doesn’t go through. Flexible will time the closing of both transactions so that you have time to confirm your desire to purchase the new property before Flexible purchases your existing property.
Simplicity- By working with Flexible on both transactions, you remove layers of complexity and potential headaches.
Safety- Flexible can cancel the purchase of your existing property if we are not able to secure the purchase of your new property or find a desirable alternative.
Favorable new property pricing- By leveraging Flexible’s expertise and credibility, you increase the likelihood of getting the best possible deal on the purchase of your new property.
Possibility that Flexible is not able to secure your new property- Flexible can’t guarantee that it will be successful in its attempts to secure your new property at your desired price.
Possibility of lower pricing and proceeds- Selling your existing property by hiring an agent and listing on the market may result in higher offer pricing and net sale proceeds, even after paying commissions.
Limited tax benefits- Other Flexible Offer Types can result in meaningful savings by deferring taxes on capital gains and depreciation recapture.
You identify a property that you want to buy that is listed for sale with an asking price of $1,200,000. To start the Trade-In, you sell your existing property to Flexible for $1,000,000.
Securing the new property
Flexible secures the right to purchase the new property for $1,100,000.
The swap
Flexible transfers the purchase rights to you, then purchases your existing property for $1,000,000. You complete the purchase of your new property by using the cash from the sale of your existing property and an additional $100,000.
Outcome
You own your new property, and Flexible owns your existing property.
This example is simplified to exclude details that vary by owner and transaction, including the impact of taxes, tax savings, and miscellaneous third-party transaction costs.
Every Flexible offer is custom-built to achieve owners’ goals. For a Trade-In, here are the most important items to consider:
The date when the transaction is complete. You may want a fast closing to get cash or to qualify for a loan on the new property, or you may want to delay closing to get more time to find your new property.
The amount of time you will give Flexible to complete its due diligence before the deposit becomes non-refundable. While Flexible can agree to an immediate non-refundable deposit upon signing a purchase agreement, 30 to 60 days is standard. For more complex projects Flexible may request more time.
Most owners who choose a Trade-In are trying to maximize earnings on the sale of their existing property. If you don’t want or need all of the cash from the sale in order to purchase your new property, either because the new property is less expensive or because you plan on obtaining a loan, Flexible can increase our offer price and pay interest by paying you in installments. This has the possible added benefit of tax savings.
When you request an offer, we’ll share options so you can choose your desired combination of offer features and make an informed choice. We can include preapproval to make changes after reaching an agreement so you have flexibility as the future unfolds.
When we make an offer to purchase your existing property, we’ll help you estimate your “net sale proceeds”, the cash you’ll receive at closing after third-party transaction costs. Once you determine which property you want to buy, we’ll help you see if you’ll have enough cash from the sale of your existing property to purchase the new property, or if you’ll need to bring a mix of cash and loan proceeds to complete the purchase.
Let us know and we can discuss options. Flexible may be able to help you qualify for a loan or structure other forms of financing.
You tell us your bottom-line pricing and we’ll bring our acquisition expertise and credibility to act quickly and provide value to owners in a number of ways that often result in an “earned discount” to market value.
Our offers are customized to maximize the collective ownership group’s satisfaction. Flexible will ensure each co-owner receives the terms they want, whether it’s cashing out, remaining an owner, or both. You tell us if you want us to work with a single contact, the group, or individually with each co-owner.
We’ll determine if your loan can be paid off without penalty and, if the rate is below market, whether it can be assumed. If we can keep a below-market rate loan in place, we may be able to increase our offer price.
We’ll work with you to coordinate our onsite inspections and collect property information as part of our due diligence. If certain materials are not available or easily accessible, our team can help.
We’ll do our best to ensure that the offer we make on your behalf works for your situation. If the only way to get an offer accepted is to agree to timing or terms that do not work for you, but you still want the property, we might be able to help by providing short-term financing assistance or by completing the purchase, and selling the property to you on your timeline.
Regret hurts.
Typical transactions prohibit owners from making changes or canceling. With Flexible, you get unlimited offer adjustments and seven days after accepting our offer to cancel.
No questions asked.