Zillow has partnered with the New Home Co. to simplify the process for buyers looking to both sell their home and purchase a new one simultaneously.
The partnership enables consumers purchasing new homes from New Home Co. to receive a cash offer for their existing home directly from Zillow if their home meets certain criteria.
“Many purchasers of new homes are also trying to sell their current home at the same time as buying, which is stressful,” Zillow Vice President Lucy Wohltman said in a release. “Not only are these buyers trying to prepare for open houses and align timelines, they can be struggling with the daunting reality of owning two homes at once.
“At its core, Zillow Offers was designed to alleviate these pain points by giving homeowners a quick and efficient way to sell their home in time to purchase their next,” Wohltman said. “By partnering with The New Home Co. through Zillow Offers, we’re excited to bring this ease and flexibility to a greater share of home shoppers in the western U.S.”
New Home said it also will offer an extended closing period of up to eight months, so buyers don’t have to worry about timing the sale of their existing home with the move-in date of their newly constructed one.
“Zillow Offers is an added benefit to our talented group of sales managers in keeping up with demand at many of our communities,” New Home Chief Marketing Officer Joan Webb said. “A concrete offer from Zillow will take away many of the surprises that can arise during the purchase process. This will ultimately help us increase home sales, eliminate contingencies and lower the risk of cancelled transactions.”