Zillow Offers and California-based homebuilder The New Home Company (NEW HOME) have partnered to offer their shared customers a way to avoid moving twice or carrying two mortgages at the same time.
“Many purchasers of new homes are also trying to sell their current home at the same time as buying, which is stressful,” said Lucy Wohltman, vice president of new construction at Zillow. “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.”
Under the partnership, eligible NEW HOME buyers in Arizona and California can get a cash offer from Zillow that will allow them to move at a time that is convenient for them. The companies also offer an extended closing period of up to eight months for those selling their current home through Zillow Offers while buying from NEW HOME.
“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 Company through Zillow Offers, we’re excited to bring this ease and flexibility to a greater share of home shoppers in the western US.”
Just last month, Zillow announced a similar partnership with homebuilder D.R. Horton.
“Zillow Offers is an added benefit to our talented group of sales managers in keeping up with demand at many of our communities,” said Joan Webb, chief marketing officer of NEW HOME. “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 canceled transactions.”