Selling one home to buy the next.
Two moves, one plan. Here are the common ways to line them up.
Sell first
You know exactly what you have to spend and you avoid carrying two homes. You may need a short-term rental, a later closing date, or to ask the buyer for time after closing.
Buy first
You move once, on your schedule. You need to qualify while still owning your current home, which some buyers do with savings, a bridge loan, or a home equity line. Ask your lender what fits.
Make your offer contingent
Your purchase depends on selling your current home. It protects you, but sellers may see it as a weaker offer in a competitive market.
Questions to answer first
- What might my current home sell for, and what would I net after costs and my mortgage payoff?
- What can I buy with and without the proceeds from my sale?
- How much overlap can I handle, and for how long?
- Can both closings be scheduled on the same day or close together? Your attorney and agent can coordinate timing.
How Tracy helps
Tracy can price your current home, map out both timelines with you and your lender, and coordinate the two contracts so the dates line up as closely as possible.
General information, not legal, tax, lending, or insurance advice. Every situation is different; confirm details with your agent, a real estate attorney, your lender, or your insurer. Anna Powell Real Estate, brokered by eXp Realty.