Zillow is making it easier for current homeowners to buy new construction homes by buying their present home and allowing them to stay in it while their new home is being built, Housing Wire reports. Ashton Woods, Mattamy Homes, PulteGroup, and Shea Homes are among the home builders that have signed on with the program.
“When home shoppers buy a new construction home from one of Zillow's homebuilder partners, they will have the opportunity to sell their existing home directly to Zillow, on their own timeline, through Zillow Offers,” the company said in a release.
One of the advantages of the program, according to Zillow, is an extended closing period – between seven days and eight months – which could prevent buyers from having to move twice or carry two mortgages simultaneously. Buyers would also not have to worry about the traditional home sales process of showings, open houses, staging, and the like, features touted by all iBuyers.
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