July 22nd 2022
Can you buy and sell a home at the same time—but without the stress? This Scarborough family says, “Absolutely!”
Let’s be honest: buying a new home — and selling your old home at the same time — is not on the top of everyone’s ‘fun things to do’ list.
Sometimes moving is necessary — but it doesn’t necessarily have to be stressful. That’s what Toronto couple Lori and Mike found out when they unlocked a real estate process that took their stress metre down several notches.
The pandemic shone a spotlight on their former home’s biggest flaw: no outdoor space. While they loved their Scarborough townhome, once COVID hit, the increased time at home made them realize they needed a backyard for daughter Rylin, and their dog, Duke, to play in.
Their mission: Find a larger space for their growing family, with plenty of outdoor space, but in the same neighbourhood of Clairlea-Birchmount. Working with Properly agent Rebecca Higgs, Lori and Mike met that challenge without having to compromise.
But how, exactly, did they do this? We sat down with the couple in their self-described new dream home to learn more about their unbelievably easy buying and selling journey, and how they avoided all the usual headaches that come with home showings, home staging, and moving into a new place.
Buying first, and selling later, made moving a breeze
As motivated as they were to make a move, Lori and Mike weren’t too excited for the buying and selling process. They’d been through it before, and dreaded the prospect of constantly keeping the house clean, and worrying about whether their cats would be accidentally let out during showings.
“The hardest thing [with selling our previous home] were the showings. My dog had to go live with my parents for 3 or 4 weeks, and we had to put a sign up to make sure our cats weren’t let out. Plus, keeping things immaculate with pets and children is almost impossible, especially because you never knew when the showings were going to be,” says Lori.
Just when they began to brace herself for going through it again, Properly came up in Lori’s Facebook feed, and something told her to click through. When she read about Properly’s Sales Assurance, she was intrigued. “Honestly, it sounded too good to be true. We signed up to have a Zoom meeting with Properly agent Rebecca Higgs, and everything she said also seemed so good.”
Buying first and selling later would allow the family to focus all their attention on finding their dream home and moving into it (and then focus on selling their old home later).
“It was during COVID times, so there weren’t a lot of houses on the market, and I didn’t want to sell our house and not have anywhere to move, or to have to rush to buy something on the market that I didn’t really like. We were looking at a very small district and we wanted to take our time to find the right place.”
Within the next few months, low and behold, Lori and Mike found their dream home — three streets away from their current house.
“I was actually on vacation up north when my husband booked a showing for this house. He called me right after and said, ‘I think I found the house. You have to come see it. You have to.’ So I drove down from up north and looked at it and I'm like, ‘Yep. I love it. I love the outdoor space. I love the indoor space. It's still in our district. It's perfect.’ And that's when we put in an offer.”
This is what makes a move stress-free
Properly realtor Rebecca made the couple less nervous about the upcoming selling process by being on-call, available, and supportive. “Rebecca was so easy to get hold of. If I emailed her, within the same minute she or her team would email me back. She responded to text messages so quickly. She was fun. It was a great experience.”
Within two weeks of closing on their new home, Lori and Mike moved in, clearing the way for Rebecca and the Properly team to prepare for selling their old house.
Properly staged [our house], cleaned it, painted where it needed to be painted, and even upgraded light fixtures for us. They made the house look so beautiful.
But the best part for Lori was the complete lack of stress of an overlapping buying and selling process.
“We had time to move out over a couple of days, not just one hard day. And we didn’t have to worry about preparing for showings. The house was staged beautifully, and it didn’t matter when the showings were because the pets were with me [at our new house]. It was just easy.”
You also might like: Is home staging worth the cost? Yes. Here’s how to do it.
Another nice touch? Selling for over asking price
When the couple’s house was listed, they saw multiple offers within 24 hours and one of them was well above the asking price. While Lori and Mike were inclined to take the offer, Rebecca stepped in to provide expert advice.
“She said, ‘Let’s just wait and see what else comes in.’ And the next day, we got an even higher offer. And Rebecca was like, ‘Yes, this is the one. Take this one.’”
“I trust [Rebecca]! She really knows the real estate market, and so she knew we could get a higher price. The house sold fast, and way above what we expected.”
Buying and selling at the same time can be this easy
Properly’s Sale Assurance helped Lori and Mike get financing for a new mortgage, and a bridge loan to support them through the transition period when they owned both homes. Then, Properly paid for the bridge loan.
“I had a mortgage on my old house, and a mortgage on my new house, of course. And then there was the bridge loan. When my house sold, I sent the receipts for my mortgage and bridge loan to Properly and two or three days later, I had a cheque for the full amount. No questions asked. No hassle,” Lori explains.
“As everyone knows, bridge loans can be very expensive every day that you take. So, for Properly to be paying the mortgage and the bridge loan and making it so easy to move, we couldn’t go wrong.”
“I have recommended Properly to so many people on Facebook looking for realtors. And when you try to explain it, people are like, ‘What realtor would pay your bridge loan, your mortgage, your staging, your cleaning, and put in all these beautiful designer lights?’ I think Rebecca spent $6,000 on lights alone for my old place."
Every time I tell friends about Properly and they say, “That's too good to be true,” I tell them, “No: check out Properly. It's real.
You also might like: A simpler way to buy and sell
Happily ever after? It’s possible with Properly
Today, Lori, Mike, their daughter, and their furry friends, are enjoying a new beautiful backyard in the same neighborhood that they’ve always loved.
They still can’t believe how easy making the move really was. “We would never sell the traditional way again. I don't know why anyone would, knowing that it’s so much easier buying first and selling after.
Properly removes the stress and the financial burden of paying the bridge loan and the mortgage. It was just super easy from start to finish.
*When you buy before you sell with Properly's Sale Assurance, we guarantee the minimum sale price of your home. And on the rare occasion that it doesn't sell within 90 days, we'll purchase it from you for that pre-agreed-upon Sale Assurance value.
**This interview has been condensed and edited for clarity.
DISCLAIMER: This article is provided for informational purposes only. It is not an exhaustive review of this topic. The content is not financial or investment advice. No professional relationship of any kind is formed between you and Properly, Properly Brokerage, or Properly Homes. While we have obtained or compiled this information from sources we believe to be reliable, we cannot and do not guarantee its accuracy. We recommend that you consult a trusted professional before taking any action related to this information. Properly is a tech-enabled real estate brokerage that is transforming the home buying and selling experience with AI-powered home valuations, Sale Assurance, and a modern streamlined service. We recommend that you compare and contrast your options, read the fine print, and conduct detailed research into any real estate, loan, and/or investment provider before using their services.*
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