For Agents
Help your clients buy before they sell.
We buy the home. You close the deal.
We specialize in eliminating home sale contingencies and unlocking equity. The UpEquity Trade Up program is a tool designed to get stuck deals across the finish line and to get your clients into their new homes.
Here's how it works:
Get a purchase price
Our guaranteed offer is for full market value and is paid in two installments. The first installment allows your client to pay off their current mortgage and unlock some equity to put towards their New Home.
Make a winning offer
Now your client is able to shop for their New Home with confidence, knowing that they already have an offer for their Old Home. This effectively removes any home sale contingency and helps you close the deal.
Stay in control
Even if we purchase the Old Home, your client can move at their own pace and find the perfect buyer, on their own terms. You and your client remain in control of the listing, marketing, and the resale of the Old Home.
They keep the upside
Once your client accepts a resale offer on the Old Home, we work behind the scenes to close the sale. Your client then receives the net proceeds from the sale as the second installment.
Frequently Asked Questions
Are you guaranteeing that my client will get full market value?
UpEquity’s full market value reflects the current list price of the property on the trade up service agreement. The first installment is guaranteed when UpEquity purchases the Old Home and control of the list price remains in the hands of the client using the program so in many cases, the Trade Up program allows clients to sell their home at or above the current listing price, however, UpEquity cannot guarantee it.
How are the 2 installments broken up?
Installment one is intended to give the client access to the funds necessary to move into their new home. These funds are generally used to payoff any existing mortgage on the Old Home and make a down payment towards the New Home.
Installment two comes after the Resale of the Old Home and is intended to give the client the remaining upside of the full market value.
Is a second installment guaranteed?
The only scenario where a second installment is not paid is when a client decides to lower the Old Home list price by more than the Market Condition Holdback amount outlined in the Service Agreement. On the flip side, anytime there is an upside, UpEquity will pay a second installment. UpEquity can only guarantee our first installment when we purchase the Old Home because the second installment is dependent on the final sales price of the Old Home to the ultimate buyer. Control of the list price remains in the hands of the client using the program so in many cases, the Trade Up program allows clients to sell their home at the current listing price, however, UpEquity cannot guarantee it.
Who does the client’s mortgage on New Home?
Trade Up clients can work with any mortgage company for their new home.
Does my client keep paying their old mortgage?
No. Any mortgages and liens on the Old Home would be paid off at the time of UpEquity's purchase of the home. Generally, the funds from installment one are used for these payoffs.
How does the inspection process work?
Once a client has signed a Trade Up Service Agreement and the UpEquity Purchase Agreement for their Old Home, UpEquity will send instructions for scheduling a home inspection. UpEquity is only looking for major issues such as mold or structural damage to the property that would detract potential buyers. UpEquity will share the results of the inspection with the client.
Who pays for the inspection?
UpEquity will cover the costs associated with the inspection. In the event that UpEquity does not purchase the Old Home as it relates to the Trade Up Service, the client will become responsible for reimbursing UpEquity at cost for the inspection.
What happens if the Old Home sells for more?
UpEquity will not pocket any upside. If the Old Home sells for more than the current list price, the difference will be paid out to the client in installment two.
How quickly do we need to sell the Old Home?
A client will retain full control of marketing and listing the property as well as negotiating and accepting offers in conjunction with the Resale for a period of 180 days after the UpEquity purchase occurs. After 180 days UpEquity will take control of the Resale process. UpEquity will still use best efforts to maximize the ultimate purchase price.
How long is the Trade Up Service Agreement valid?
A client will have 14 days to review and sign the Service Agreement. After 14 days, our team will need to run a refresh of the offer. Once the Service Agreement has been signed, the UpEquity Purchase Price is valid for 60 days. If 60 days pass and the Old Home has not been sold, UpEquity will refresh the offer based on existing market conditions and continue to do so every 60 days.
What happens if I back out of the transaction?
If the Old Home is sold to an unaffiliated 3rd party and the transaction is closed prior to the close date of the UpEquity purchase OR a written cancellation notice is provided to UpEquity, then UpEquity will waive the convenience fee and terminate the purchase contract.
How is agent commission paid out?
Real estate agent commission is paid at the closing of the Old Home resale transaction. UpEquity plays no role in determining commission and will pay out the amount agreed upon between a client and their realtor. The funds for the realtor commission are included in the Resale Holdback and Actual Resale Costs in the Trade Up Service Agreement.
Does the Client have to pay for an appraisal?
No, but the Old Home does need to pass an inspection.
How are you different from other Buy Before You Sell companies?
The Trade Up program has three features that differentiate it from other products on the market: A full market value offer, cost, and service.
With the Trade Up program, clients receive a full market value offer so they can sell their home for max value, buy their next one for less, and remove the stress of buying, selling, & moving at the same time.
In addition, there are no out of pocket costs. We believe in full transparency and don’t hide fees. UpEquity attempts to be the lowest cost product of its kind.
The last differentiator is our level of service - white glove service - we truly pride ourselves on it and make the entire buying and selling process seamless.
What happens if my old home doesn’t sell?
UpEquity allows clients to continue marketing and listing their home until it eventually sells to a final buyer. If the home remains unsold for 180 days after UpEquity’s purchase of the home, UpEquity will begin taking a larger role in the control of the resale and setting the list price. UpEquity has never seen a situation where a home never sold after using our Trade Up program.
What percentage of the listing price is installment one?
The UpEquity purchase price (installment 1) is not calculated by a standard percentage of the current listing price. Rather, installment one is calculated using an algorithm that helps determine the UpEquity purchase price on a case by case basis considering several factors.
Does UpEquity take title ownership of the home?
Yes. When UpEquity purchases the Old Home and issues installment, UpEquity will take full title ownership of the property to make the program effective for any new mortgage. The Service Agreement provides the contractual arrangement to allow the client to retain full control over the Resale.
When are the two installments paid?
Installment 1 is paid at the time of UpEquity’s purchase of the Old Home. UpEquity will purchase the Old Home one to two days prior to the closing of the client’s New Home purchase. When the Old Home is resold, UpEquity will remit the applicable second installment within 14 days. Generally, UpEquity pays the second installment in 1-2 days following the Resale.
Who controls the list price?
UpEquity allows the client to retain full control of marketing and listing the property as well as negotiating and accepting offers in conjunction with the Resale for a period of 180 days after the UpEquity purchase occurs. This includes the ability to control the list price of the Old Home. After six UpEquity will take control of the Resale process. UpEquity will still use best efforts to maximize the ultimate purchase price.
When will UpEquity purchase the Old Home?
UpEquity will purchase the Old Home and pay installment one 1-2 days prior to the closing of the client’s New Home purchase. This will help align the closings, provide a more seamless move, and create a clean transfer of funds through title companies.