Cash offers don’t contain any financing contingencies and typically close faster. This makes them more appealing and gets buyers into a new home quicker.
Our SmartBridge cash offer program offers competitive buying power and no financing contingencies, making it a much stronger offer than traditional offers.
Buyers are completely backed by the cash reserves of HomeSmart Investments, LLC.
A buyer who has a qualifying pre-approval letter from Minute Mortgage is eligible. Buyers will receive a certificate from Minute Mortgage stating they are qualified and approved for the SmartBridge program.
A current home is not needed to use the SmartBridge program. Our cash offer solutions are applicable for all buyers, whether a first home or next home.
Including a 10% down, the minimum purchase price will be $200,000, and the maximum purchase price will be the current conforming loan limit. Purchase power is dependent on the pre-approval from Minute Mortgage, which determines the amount of cash that can be offered. No jumbo loans at this time.
With a simple process provided by our preferred lender, Minute Mortgage, a buyer can quickly and easily get pre-approved to participate in the SmartBridge program.
• Single family homes for owner occupants, only.
• Newly constructed homes also qualify: We will work with the buyer, the real estate agent, and builder to ensure we have all the info needed to remove contingencies and to guarantee a closing date.
• Homes that were built after 1974, or homes that have been fully renovated.
• Short sales, foreclosures, condominiums and townhomes, manufactured and modular homes are not eligible.
Not at all! To qualify, the buyer must be mortgage-eligible and have a pre-approval from Minute Mortgage to use Smart- Bridge.
There is no credit application process to inquire or apply for SmartBridge. However, as with any mortgage application, our preferred lender, Minute Mortgage, or the buyer’s preferred lender, will check their credit with a ‘hard pull’ to determine what they may qualify for.
Once the sale is closed, who owns the home — and how the SmartBridge fee is collected — depends on how the buyer secures financing. The fee levels for SmartBridge are 1%, 2%, or 3% of the purchase price, plus any applicable extension fees (see below).
|Is Financing Secured
|HomeSmart Investments||Minute Mortgage*||2%|
|HomeSmart Investments||Other Lender**||3%|
*The buyer has 15 days after the scheduled closing date to secure financing. One free 5-day extension is available. If the buyer requires a 30-day extension past the 15-20 days, an extra 1% fee will be charged, on top of the base fee.
**The buyer has 15 days after the close date to secure financing. If the buyer requires a 30-day extension past the 15 days, an extra 1% fee will be charged, on top of the base fee.
For more information, contact a HomeSmart SmartBridge specialist.
The first step to securing your SmartBridge cash offer is pre-approval. With a simple process provided by Minute Mortgage, you can quickly and easily get pre-approved to participate in the SmartBridge program.GET PRE-APPROVED