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Final Financial Settlement
When the property sells to a new buyer, a final settlement occurs. All of HomeSimple's fees are deducted from the proceeds, including per diem interest, transaction fees, and any costs incurred.

If there is a profit: The remaining proceeds are wired to seller within 48-72 hours of the sale closing.

If there is a loss: Seller is responsible for promptly paying HomeSimple the full amount of the loss.

Sellers Old Home is Re-Sold on the Market

Sellers real estate agent re-lists sellers former home for sale on the open market. The agent will earn their commission from this final sale.

During this time, HomeSimple may reduce the listing price by up to 5% every 21 days if the property is not getting offers.

Seller Purchases Their New Home

With the equity now available, seller proceeds with closing on their new home purchase as planned with their AWM loan.

HomeSimple Buys Sellers Home, Unlocking Sellers Equity

Once all terms are agreed upon and repairs are done, HomeSimple purchases sellers home. This is timed to close approximately 3-4 days before your new home purchase closes.

This transaction pays off sellers existing mortgage and provides seller with the equity needed for the down payment and closing costs on your new home.

Agree to the Purchase Terms
HomeSimple determines a purchase price, which will not be more than 70% of the sellers home's market value.

Seller will sign a Letter of Intent (LOI) that outlines all the terms. This includes your agreement to cover all carrying costs (HOA, utilities, taxes, maintenance) until the home is re-sold. Most importantly, seller agrees to reimburse HomeSimple for any financial loss if the home's final sale price doesn't cover all associated costs.

Apply for the Seller Program & Prepare Your Current Home
Your Loan Officer will help the seller submit an application package for your current home, which includes a home inspection, a Comparative Market Analysis (CMA) from your agent, and other documents.

A home inspection is required. The seller is responsible for completing and paying for any required repairs before HomeSimple will purchase the property.

The property must be listed for sale online before HomeSimple can complete the purchase.

Get Approved to Purchase Your New Home
Before anything can be done with the sellers current home, they must first work with an All Western Mortgage (AWM) Loan Officer to get a fully underwritten credit approval for the new home you intend to buy. This program is exclusively for AWM customers who need to sell their current home to qualify for their next one.

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